Local Property News | Posted by Si Thu Aung
The investment commission approved Mount Zwekabin Cable car line which is being built at the foot of the mountain on March 6, the Commission said in a statement.
The project is 100% foreign investment and is approved as the type of hotel services at the foot of Mount Zwekabin and Zwekabin unreserved forests.
The Commission gave a green light to the Zwekabin project as well as other nine projects with the total investment amount of $ over 130 million.
The four companies have been jointly implementing Zwekabin cable car line project since 2018. The Zwekabin Land and Cable Car Development Company was established in 2018 with four directors.
The Zwekabin cable car line project will cost $ over 12 million, the company said.
U Banyar Zaw, Chief Executive Officer of the company said the cable car line operating will be launched by May 2020.
The project will start operating the ups and downs of the mountain with two coaches; each one can carry 50 people that will cost K5000 each.
Written by iMyanmarHouse.com Team
Credit: iMyanmarHouse.com
