SME Times News Bureau | 04 Feb, 2012
In a bid to attract private sector investment in improvement and maintenance of state highways and major roads, the West Bengal cabinet Friday decided to implement a "golden highway project" by setting up an agency in public-private partnership model with an initial paid-up capital of Rs.50 crore.

The West Bengal Highway Development Corporation, comprising experts from the state run-Public Works Department and private sector professionals, will be entrusted with the task of implementing the Swarnali Rasta Prokolpo or Golden Roads Project, on the lines of the Golden Quadrilateral project carried out by the National Democratic Alliance government at the centre.

Briefing mediapersons after the cabinet meeting, Industries Minister Partha Chatterjee said: "The new agency will be put in charge of improvement, maintenance of highways, as also the link roads to them. The important roads in the state will also be under its jurisdiction."

"The Memorandum of Association has been prepared. The WBHDC will have an initial paid-up capital of Rs.50 crore. We want to start the Swarnali Rasta Prokolpo as soon as possible.

"We will draw the best of brains from the PWD and the private sector professionals. We badly need to improve condition of roads to upgrade infrastructure and increase speed. This will also help in the resurgence of the economy," the minister said.