GLITTERING HEIGHTS: The Park Street flyover and the roads under it. A Telegraph picture

The Japan Bank for International Cooperation (JBIC) will wind up on December 16 all transactions with the Hooghly River Bridge Commissioners (HRBC) related to the construction of four flyovers.

The Japanese bank, which funded the flyover project, has requested the HRBC, implementing agency of the JBIC-funded flyover project, to complete all formalities, including financial transactions, within December 16.

In view of the JBIC?s intention to wind up business, transport secretary Sumantra Chowdhury has convened a meeting with HRBC officers for a final review of the work and final settlement of financial deals with the Japanese bank.

?We will close the deal with the JBIC on December 16, as desired by them. At the same time, we will submit the work completion report,?? HRBC vice-chairman Sadhan Banerjee said on Saturday.

Though construction of the four flyovers was completed in June, some related work, like at-grade development of roads, repair of the sewerage line and of roads beneath the flyovers, were pending.

The last Rs 20-crore package was repairing the tram tracks on Rashbehari Avenue and New Park Street, repairing and widening of Canal East Road and improving the Maniktala four-point crossing.

The deadline to complete all the work was September 30, but the JBIC had extended it twice as HRBC failed to meet the target date, citing monsoon and technical trouble.

A team of HRBC officers paid a visit to all the project sites on Friday to assess work progress. ?Work is almost over. We do not have any problem closing the deal with the JBIC on December 16,? the HRBC vice-chairman said.

?Though the work is complete, we will not release the security deposit to the contractors concerned. We are inspecting the work thoroughly to ensure that everything is done according to specification. If we detect any flaw, it will be rectified at the contractors? cost,?? HRBC officers said.

They expressed doubts over completion of the Canal East Road work. Engineers felt that some work will be pending. ?As the JBIC will not provide funds after winding up its activities, what remains will be completed by utilising the security deposit of the contractor. We have conveyed this to the contractor,?? Banerjee said.