Financial footing for Indian tunnel/highway project

Funding has been found to finance India’s infrastructure investment into National Highway 1 in Jammu & Kashmir. A deal by ICICI Bank and Srinagar Sonmarg Tunnelway is providing the necessary loans for the Srinagar-Sonamarg-Gumri road and tunnel link. The project involves building a 6km road and 6.5km tunnel and the concession deal also involves maintenance and operation of the link. Srinagar Sonmarg Tunnelway, is a 49:51 joint venture combined of IL&FS Transportation Networks and Soma Enterprises.
September 8, 2014 Read time: 1 min

Funding has been found to finance India’s infrastructure investment into National Highway 1 in Jammu & Kashmir. A deal by ICICI Bank and Srinagar Sonmarg Tunnelway is providing the necessary loans for the Srinagar-Sonamarg-Gumri road and tunnel link. The project involves building a 6km road and 6.5km tunnel and the concession deal also involves maintenance and operation of the link. Srinagar Sonmarg Tunnelway, is a 49:51 joint venture combined of 3148 IL&FS Transportation Networks and Soma Enterprises.

Road Structures Finance & Funding

For more information on companies in this article

Related Content

  • Work planned for two major Indian highway projects
    September 30, 2015
    Two large highway projects in India are now moving forward following the award of contracts by the National Highways Authority of India (NHAI). The NHAI awarded a contract worth US$269.62 million to Hindustan Construction Co (HCC) for the construction of a highway in the local state of Jammu and Kashmir. The project is part of the second stage of the National Highways Development Project (NHDP) initiative by the NHAI for the NH 1A highway, and covers 36km including 3km of tunnels between Banihal and Ramban.
    Read More
  • Indian expressway secures funding
    October 12, 2022
    An Indian expressway project has secured necessary funding.
    Read More
  • A new tunnel project for Turkey is a significant move
    December 12, 2012
    The European Bank for Reconstruction and Development (EBRD) is supplying a finance package worth US$150 million for the new Bosphorus crossing project in Turkey. Running under the Bosphorus at Istanbul, the new tunnel will connect both European and Asian sides of the city. The EBRD’s $150 million loan completes $1.4 billion worth of financing required for the Eurasia Tunnel project, being built under the Bosphorus straits. Other components of the $1.4 billion financing package for this PPP project include a
    Read More
  • Key project for India
    February 15, 2012
    In India a major highway deal has been agreed for a road project in Gujarat worth an estimated US$810.8 million.
    Read More

Highlighted Content