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MoU signed to construct Muktinath cable car

Gorkha Post

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KATHMANDU — Muktinath Cable Car Pvt Ltd (MCCPL) and Investment Board Nepal (IBN) have signed a memorandum of understanding (MoU) for preparing detailed project report of Muktinath Cable Car project on Wednesday.

Chief Executive Officer at the Board, Maha Prasad Adhikari, and Company Chairman Arun Kumar Subedi singed the MoU.

The deadline set to submit the DPR of the 83.65-kilometre-long cable car system has been set at February 2020, 18 months from now.

A cable car way would be constructed linking Birethanti of Kaski to Mustang. The cable car to be constructed with a length of 83.65 km will have six stations. The first station is Birethanti then Ghorepani, Tatopani, Lete, Marpha, Kagbeni and finally Muktinath.

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Investment Board’s Spokesperson Uttambhakta Wagle informed that the project is estimated to cost around Rs. 35 billion.

The construction of the cable car, first public-private partnership project, will be the longest cable car in Nepal.

In the recent time, initiatives are underway to construct two dozens of cable cars across the country, while the one in Kalinchowk of Dolakha is going to complete.

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Economy

NEPSE stabilises

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KATHMANDU- The Nepal Stock Exchange (Nepse) index has stabilised to some extent as compared to the first trading day on Sunday when it suffered a sharp dip.

The NEPSE index increased 0.9 points to close at 1131.73. Likewise, the sensitive index, which measures the performance of group ‘A’ stocks has also risen 0.06 points.

Over 2 million shares of a total of 156 companies were traded at more than Rs 637 million. Of the total 11 subgroups, four made gains, and the rest seven declined.

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Development bank surged 4.7 points, while non-life insurance 92.1 points, life-insurance 13.57 points and others 0.43 points.

But, banking dipped 0.27 points, while trade 1.18 points, hotel 2.04 points, hydropower 2.17 points, finance 1.82 points, production 9.21 points and microfinance 8.31 points.

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