Chenani Nashri Tunnel project in Jammu & Kashmir to finish by May 2016: ITNL

NEW DELHI: IL&FS Transportation Networks Ltd (ITNL) today said construction of the nine kilometer long Chenani Nashri Tunnel project in Jammu & Kashmir is scheduled to be completed by May next year.

In a BSE filing, IL&FS Transportation Networks said: "The breakthrough ceremony of the 9 kilometer long main tunnel at the Chenani Nashri Tunnel (the project) in the state of Jammu & Kashmir is scheduled on July 13, 2015."

The firm had undertaken the construction of the project in August, 2011 and "the scheduled project completion date is May, 2016", it added.

Last week, National Highway Authority of India Project Director R P Singh had said that the tunnel on Jammu-Srinagar National Highway will be completed by July, 2016.

The two-lane tunnel, connecting Chenani with Nashri in Ramban area, will slash the 31-km of the journey and reduce the travel time by two hours, he had said.

Shares of the company today fell 2.58 per cent to settle at Rs 143.70 per scrip on the BSE.