GEORGE TOWN: The Penang Hill cable car project will be fully financed and developed by a private concessionaire, with no cost to the state government, the Penang Hill Corporation (PHC) said on Friday (May 23).
In a statement, the state agency said the RM245mil project was awarded to local rail firm Hartasuma Sdn Bhd under a 30-year public-private partnership (PPP) using a design-finance-build-operate-transfer (DFBOT) model.
