Govt ready to relax norms for IL&FS' Zojila tunnel project in J&K.

In an attempt to ease the process of project implementation for the troubled Infrastructure Leasing & Financial Services (IL&FS), the Union road ministry is ready to relax the stringent fund-mobilisation norm for the concessionaire for the Zojila tunnel project in Jammu & Kashmir.

According to the norms, the government releases 10 per cent of the total contract value to the concessionaire at the start of the project, against a bank guarantee 10 per cent of this advance payment. 

BS