The Calcutta Municipal Corporation on Monday accepted Rs 1 crore from Bengal NRI Complex Limited for widening a road at Chowbagha.
This marks the beginning of the civic bodyís cost-sharing arrangement with private parties for infrastructure development.
Mayor Bikash Ranjan Bhattacharyya said the Bengal NRI Complex will pay Rs 6 crore in instalments for the widening of a 2.5-km road, from Kalikapur to Heritage Institution.
S.K. Todi, the managing director of Bengal NRI Complex, said the widening will cost Rs 15 crore.
Municipal commissioner Alapan Bandyopadhyay stressed the need for developing infrastructure on the eastern side of the EM Bypass, which is now the centre of all major commercial activities.