The purpose of the 13.11-km-long Zojila tunnel is to provide all-weather connectivity between Kashmir and Ladakh throughout the year. Engineers say the superior rock quality within and outside the tunnel is one of the reasons that make Zojila risk- free.
The minister today visited the Zojila in theUnion Terriotary of Jammu & Kashmir and directed the authorities of Megha Engineering and Infrastructures, the company involved in the construction of the tunnel, to complete the tunnel before the 2024 parliamentary election.
While the 6.5-km Z-Morh tunnel is expected to be completed by next year, ahead of the target date of December 2023, the 14.15 km Zojila tunnel is also scheduled to be completed ahead of the target date of 2026, NHIDCL officials said.
The project holds strategic significance as Zojila Pass is situated at an altitude of 11,578 feet on the Srinagar-Kargil-Leh National Highway and remains closed during winters due to heavy snowfall.
The government has set up a committee to look at all the projects that are owned by IL&FS and work on their revival strategy
The committee found that out of the Rs 67,046 crore worth projects that have been sanctioned, Rs 17,913 crore have been released to the state government.
IL&FS' financial health has also raised other concerns for the government such as to whether open new bids for the strategically important Zojila Tunnel in Jammu and Kashmir
Speaking to CNBC-TV18, Mukund Sapre, ED, IL&FS Transportation Networks says the company finds rights issue to be a better option to mobilize the equity because of the stock prices.