Himachal Pradesh government would bear only 28% cost of Rs 1,734.70 crore Shimla Innovative Urban Transportation Ropeway Network Project, Deputy Chief Minister Mukesh Agnihotri said in the state assembly on Thursday. The 13.65 km long Ropeway from Tara Devi to Shimla would be executed on EPS (Engineering, Procurement and Construction) mode, he said in a written response to a question by BJP's Sudhir Sharma.
The rate of interest would be finalised after a tripartite agreement between the state government, Finance Ministry and Department of Economic Affairs and Government of India, he said.
The fare for commuters has not been decided yet, Sukhu said. Tenders for advance purchases would be invited only after approval from National Development Bank.
The contribution of the state government would be 20% while NDB funding would be 80% of which 90% would be subsidy and 10% would be loans. Adding the loan component, the contribution of the state government would be 28%, Sukhu added.
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