IL&FS wins Jammu & Kashmir's Zojila tunnel project in re-bidding

MUMBAI: Infrastructure Leasing & Financial Services (IL&FS) is set to bag the project to build the Zojila tunnel that will provide all-year connectivity between Srinagar and Leh, two people aware of the development said.

The other bidders for the tunnel project are Larsen & Toubro, Reliance Infrastructure and Jaiprakash Ventures.

The tunnel, to be built at an altitude of 3,528 metres, will provide an alternative to the national highway that connects Srinagar and Leh but remains shut for close to six months due to snow.

Mumbai-based IL&FS’ bid of Rs 4,849 crore stunned industry executives as it is lower than the reserve price of Rs 5,630 set by the government.