Road developer IRB Infrastructure Developers Ltd has won a Rs 10,050-crore contract from the government to build what will be the longest tunnel in South-East Asia, the Zozila Pass Tunnel, in Jammu and Kashmir.
According to statement released by the company, it is the biggest national highway project awarded in India in terms of project cost.
The tunnel will be 14.08 km long and will include approaches on NH-1 (Srinagar-Sonmarg-Gumri Road), and will have three vertical ventilation shafts, a snow gallery of 700 metres, avalanche protection measures etc. It will be built on a design, build, finance, operate and transfer (annuity) basis.
This project has a strategic and socio-economic importance as it will provide the much needed all-weather connectivity between Jammu and Kashmir and Leh-Ladakh, which remains cut-off during winter due to heavy snowfall, the note said.
“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 a 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, 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.
With this order, IRB will expands its base to its ninth state for operations and its order book size swells to Rs 16,430 crore.