APCO Infra bags Rs 2,378 crore tunnel project in J&K

NEW DELHI: Gurgaon-based APCO Infratech has won the contract for the strategic Z-morh tunnel in Jammu & Kashmir, according to an official, a first step in restarting an under-construction project which was put up for rebidding following uncertainty over its completion date.The Rs 2,378-crore project, initially awarded to the now-troubled Infrastructure Leasing & Financial Services (IL&FS), had been in stasis for about a year. Amid the uncertainty regarding its progress, staterun National Highways & Infrastructure Development Corporation Limited (NHIDCL) had terminated IL&FS’ contract and invited fresh bids for it in June this year.The 6.5-km-long Z-morh tunnel will provide all weather connectivity between Srinagar and Kargil. 70941201 The official sited earlier told ET that APCO Infra emerged as the lowest bidder for financial bids that opened on Thursday. “APCO emerged as the lowest bidder, quoting the annuity amount of Rs 296 crore,” the official said, requesting not to be named.Another official said NHIDCL will soon issue the complete list of bidders.ET had reported on August 2 that NHIDCL had received bids for the project from four companies in the techno-commercial bid stage. As per the minutes of the meeting of the empowered technical bid evaluation committee, issued on August 19, NHIDCL said that technical bids were received from APCO Infratech, Ashoka Concessions, Chetak Enterprises and NCC Ltd.

from Economic Times https://ift.tt/2Le0D7S