The Inland Waterways Authority of India (IWAI) is likely to start work on a Rs 2,000 crore project to develop stretches of 332 km in two phases. In the first phase, the stretch between Jokadia to Dhamra and Paradip Port will be developed for shipping and navigation of cargo vessels of about 1,500 tonne with the required infrastructure and navigation aids. In the second phase, the stretch between Talcher and Jokadia of about about 131 km will be developed. As per the Shipping Ministry, the government would approach Asian Development Bank and Japan International Cooperation Agency for funding the project. The proposed waterway is likely to help the industries in Kalinganagar and Vyas Nagar industries hub. The development of NW-5 will help speedier and cost effective evacuation of coal, iron ore and other industrial products.