IL&FS has placed the lowest bid of Rs 4,899 crore for the construction of the tunnel. "Prime Minister Narendra Modi will do the 'bhoomi pujan' of the project once weather clears up in the region," Gadkari said. The project is expected to be completed by March 2023 and will provide an alternative mode of transportation that will be environmentally friendly and cost-effective. The project is being funded by the World Bank, Gadkari said. There will be two multi modal hubs in Varanasi and Haldia," he said.The cabinet also approved the amendments to the model concession agreement to make port projects more investor-friendly.

Source: Economic Times January 04, 2018 02:48 UTC