The Golden Quadrilateral project connecting the four metros -- Delhi, Mumbai, Kolkota and Chennai would be completed by the end of 2004, Union Minister of State for Road Transport and National Highways Shripad Naik said in Panaji on Monday.
The estimated Rs 60,000-crore (Rs 600 billion) project has provided employment to about 200,000 people and 40 per cent of the work has, so far, been completed, Naik told reporters.
He said its connectivity to all the 12 major ports in the country would involve an investment of another Rs 4000 crores (Rs 40 billion).
The completion of the four-lane project and the other North, South, East, West corridor projects, would not only result in employment generation but also savings of Rs 8000
crores (Rs 80 billion) annually from petrol and diesel consumption due to better road networking, he said.
Naik said his ministry has given a proposal for a 1500-km long four-lane coastal corridor linking Mumbai to Kochi.
"No sooner approval was obtained from the finance ministry, consultants would be appointed and the cost and other factors would be worked out, Naik said.The Centre has sanctioned Rs 500 crores (Rs 5 billion) to convert about 100-km stretch of the National Highway no.17 from two-lane into four-lane between Patradevi and Pollem and the details were being worked out, Naik added.