IL&FS wins Zoji La Pass tunnel project re-bidding

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The Infrastructure Leasing & Financial Services (IL&FS) wins the re-tender process of the Zoji La Pass tunnel project that connects Srinagar and Leh in India. IL&FS has bested two other bidders of the project - Larsen & Toubro, Reliance Infrastructure and Jaiprakash Ventures. 

The company's bid of Rs4,849 crore (US$685.98 m) stunned industry executives as it is lower than the reserve price of Rs 5,630 (US$796.47 m) set by the government. 

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