• Gets LOA for Rs. 10,050 Crore Zozila Pass Tunnel, spanning 14.08 km
• India’s biggest National Highway project awarded in terms of project cost
• To provide all weather connectivity between Jammu and Kashmir and Leh – Ladakh
• IRB expands its base in 9th state viz. Jammu and Kashmir
• Construction order book increased to Rs. 16,430 Crore approx.
New Delhi, January 05, 2016: IRB Infrastructure Developers Ltd, one of the largest BOT road developers in India, has received a Letter of Award from Ministry of Road Transport & Highways (MORT&H), Govt. Of India for the Construction, Operation and Maintenance of the longest Tunnel in South-East Asia, Zozila Pass Tunnel, in Jammu and Kashmir.
It is the biggest National Highway Project awarded in India in terms of project cost with a tunnel length spanning 14.08 Km and costing Rs 10,050 crores. It will include approaches on NH-1 (Srinagar – Sonmarg – Gumri Road) in the State of Jammu & Kashmir on Design, Build, Finance, Operate & Transfer (Annuity) basis.
This project has a strategic and socio-economic importance as it will provide much needed all weather connectivity between Jammu & Kashmir and Leh – Ladakh, which remains cut off during winter due to heavy snowfall and hence assumes National importance. The Project involves construction of Tunnel spanning length of 14.08 Kmsand approach road of 10.8 Kms with three Vertical Ventilation Shafts, Snow Gallery of 700 meters and Avalanche Protection measures etc.
“We are happy to get the project and we are confident that our work force will meet the challenges of the Himalayan terrain and build the tunnel well in time,” said Mr Virendra Mhaiskar, Chairman and Managing Director of IRB Infrastructure.
“The estimated project cost of the company is approximately Rs. 10,050 Crore with construction period of seven years. The concession period for the project is 22 years. IRB Infra will receive Semi-Annual Annuity of Rs. 981 Crore from MORT&H commencing after completion of construction of the project which would be received twice in a year till the end of the concession period,” he explained.
IRB expands its base to the 9th State with this project and the company order book size swells to Rs 16,430 crores.
Corporate Comm India(CCI Newswire)
