Govt steps up support to ropeway projects
Extends 60% construction support under the hybrid annuity model (HAM) for ropeways, 40% for national highways
image for illustrative purpose
Over 200 projects at a cost of Rs1.25 lakh crore have been identified under the National Ropeways Development Programme called ParvatmalaPariyojana. Apart from facilitating tourism in the hilly areas, ropeways have a huge potential in the urban public transport as well
For Rapid Transit
- To Enhance mobility in hilly regions
- Collaboration with IIT Roorkee
- To developalternative mobility systems
New Delhi: The government has decided to provide 60 per cent construction support under the hybrid annuity model (HAM) for ropeways. For national highways, this support is 40 per cent. The hike is intended to attract more private players for the development of ropeways under ParvatmalaPariyojana, official sources told Bizz Buzz.
As per the rules of the Ministry of Road Transport & Highways, the concessionaire gets 40 per cent cash construction support in five equal installments which are linked to construction milestones. The concessionaire has to initially bear the rest of the cost through a combination of debt and equity.
Minister of Road Transport & Highways NitinGadkari last week announced that over 200 projects at a cost of Rs1.25 lakh crore have been identified under the National Ropeways Development Programme called ParvatmalaPariyojana.
At a symposium-cum-exhibition on ropeway in New Delhi, he said that the foremost priority should be to make ropeways economically viable by bringing down the overall project cost and encourage public-private partnership to develop the ropeway network in the country. Apart from facilitating tourism in the hilly areas, ropeways have a huge potential in the urban public transport as well, he said. The Ministry of Road Transport & Highways is focused on developing indigenous and cost-effective solutions without compromising safety, the officials said.
Since the development of infrastructure is directly related to the improvement in the quality of life for the citizens, the government has taken various initiatives to enhance the ease of doing business (EoDB) in the sector, the officials said, adding that the time is ripe for investors to pour in money in infrastructure building, including ropeways.
A memorandum of understanding (MoU) has been signed between National Highways Logistics Management Limited and IIT Roorkee for creating a center of excellence for ropeways and other innovative alternate mobility systems.
