The loan, when granted, would meet the major part of financing the remaining portion of the New Delhi-Calcutta corridor of the Golden Quadrilateral. The total project is likely cost around Rs 700 million.

The bank's first tranche of $516 million, called the Third National Highway World Bank Project, was released in June, 2000 and would be used for four/six-laning of the 477-km Agra-Dhanbad section of the NH-2. The total length of the NH-2 is 1,469 km. Of this, the Western arm, between New Delhi and Agra, has already been four-laned. Four-laning of the Eastern end from Dhanbad to Calcutta is under implementation.

While addressing a project launch workshop for the Third National Highway World Bank Project, NHAI chairman Deepak Dasgupta said the second tranche of loan was likely to come through by the end of the current fiscal, adding, the authorities would also be raising Rs 500 crore through market borrowings in the next four months.

The NHAI had raised Rs 500 crore earlier this year through private placement of tax-free bonds.

Addressing the workshop, Union minister of state for surface transport and highways Maj Gen (rtd) BC Khanduri said the time schedule for the NHDP would be strictly adhered to, adding the 1,600-km of the programme would be concretised with a view to help out the ailing cement units.

The Agra-Dhanbad section of the NH-2 has been divided into eight construction packages. The length of each construction package varies from 30 to 80 km. The total construction cost, including equipment and consultancy service is estimated to be Rs 2,894 crore. Construction is likely to commence by next January and is slated to be completed by December 2003.

Bank rules out easing pre-qualification norms
New Delhi: The World Bank has ruled out any relaxation in pre-qualification criteria for road projects funded by it. Stringent bank norms keep domestic construction majors out of the fray and therefore, the ministry of surface transport is planning to review the criteria.

Speaking to the press here on Tuesday at the launch of the Third National Highway World Bank project, bank representative Cris Hoban said the bank could not make any relaxation for the ongoing projects as they were of very big size, and construction companies with required international experience could only be considered for them, adding joint ventures of domestic and international companies would be encouraged.