If ministers' public statements are to be believed, Jyoti Basu and Mamata Banerjee will co-operate with each other in the interest of West Bengal's development.
The two leaders, who had called each other names during the election campaign barely a month ago, promised to bury the hatchet at the Saturday ceremony to lay the foundation stone for the first of six flyovers being built with Japanese assistance.
The 571-metre long 4-lane flyover at Gariahat, costing around Rs 65 crore, is expected to be completed well before the scheduled 29-month period. Basu, however, indicated that two of the six promised flyovers may not be built for various difficulties.
The Japanese ambassador, Hiroshi Hirabayashi, who enthralled the audience by delivering half his speech in Bengali, said Bengal alone accounted for about 10 per cent of the total 1,641,785 million yen loan committed to India. Development projects in Bengal are getting loans worth Rs 6191 crore.
He added that the Overseas Economic Co-Operation Fund and the EXIM Bank of Japan merged from October 1 to create a new entity, Japan Bank for International Co-Operation (JBIC). "It is set to pursue a more enhanced role by integrating the functions of OECF and EXIM Bank.
"JBIC is operating on two fronts. It is conducting the overseas economic co-operation operations to provide financial assistance. It is also conducting international financial operations including export-import loans, overseas invest loans, untied loans, and equity participation in overseas projects with Japanese corporations", said the ambassador.
The Rs 410 crore loan for development of Calcutta's transport infrastructure development was committed in 1996. The flyover will be at Gariahat, between Rabindra Sadan and Beck Bagan on AJC Bose Road, at the junction of Park Street and Chowringhee Road, across the railway track on Lock Gate Road, and, on Park Street across AJC Bose Road at Mullick Bazar.
There will also be surface level improvement at Esplanade, Shyambazar and Maniktaka crossings.
Banerjee said it was necessary to improve the pace of traffic in Calcutta so that the pace of work improves. The Centre, according to her, was prepared to co-operate with the state government for m
