Penang Hill cable car to cost taxpayers nothing, state agency says as private firm Hartasuma takes on RM245m project

AI Summary

The Penang Hill cable car project, a RM245 million venture, will be fully funded and developed by Hartasuma Sdn Bhd under a 30-year public-private partnership. Ownership will revert to the Penang state government after the concession period. This approach alleviates financial burden on the state, with Hartasuma responsible for funding and operations, using cable car technology from Doppelmayr Seilbahnen GmbH. The project, currently at 7% completion, includes three stations, a multi-storey car park, and commercial plaza. It aims to ease congestion and traffic around Penang Hill and the Botanic Gardens.