BPMB, Hartasuma in RM367mil cable car agreement

Hartasuma Sdn Bhd executive director Tan Sri Ravindran Menon (seated, right) and Bank Pembangunan Malaysia Bhd (BPMB) group head of coverage Gerald Goh (seated, left) signing the financing agreement for the Penang Hill Cable Car Project. Witnessing the ceremony (from left) are BPMB managing director, group corporate & investment banking Mohamed Nazri Omar, Penang Chief Minister Chow Kon Yeow and Hartasuma chairman General (R) Tan Sri Zulkiple Kassim.

PETALING JAYA: Bank Pembangunan Malaysia Bhd (BPMB) and Hartasuma Ropeways Sdn Bhd, a wholly owned special-purpose vehicle or SPV under Hartasuma Sdn Bhd, have formalised their partnership for the new Penang Hill cable car project.

The project aims to enhance access to Penang Hill. It will expand connectivity to the Penang Hill Biosphere Reserve and boost the state’s tourism sector.