Current Affairs Exam

New Development Bank to fund Shimla ropeway project

The New (NDB) has agreed to fund the Shimla Urban Transport Ropeway Project. The project will be implemented under the 90:10 financial scheme by the Centre and the state.

The ropeway will have a Network of 14.69 km, starting from Taradevi, the entry point to the city. It will have 15 boarding and de-boarding stations close to the circular road.

The ropeway will lead to decongestion of the city roads. It will have the capacity of ferrying around 7,000 passengers in an hour to various parts of the city. It will be like Metro on ropes.

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