MoRTH Plans ₹1.25 Lakh Cr Investment in 200 Ropeway Projects
The Union Transport Ministry is set to initiate more than 200 projects valued at ₹1.25 lakh crore under the National Ropeways Development Program, known as 'Parvatmala Pariyojana'. Union Transport Minister Nitin Gadkari announced the projects, emphasizing the adoption of the Hybrid Annuity Model (HAM) to reduce overall costs and promote Public-Private Partnerships (PPP). The focus is on making ropeways economically viable and exploring their potential not only in boosting tourism in hilly regions but also as a sustainable option for urban public transport. The move aims to attract private players, fostering indigenous and cost-efficient solutions to positively impact tourism and job generation across the country. Under the National Ropeways Development Program, 60% construction support will be provided under HAM for Ropeways, signaling a significant step toward creating a robust ropeway network in India.
📅Published on:
24 January 2024
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