Two prominent business groups are set to launch a cable car service in Pumdikot, Pokhara. Chitwan’s Co-E Group and Agni Group have partnered to operate the Pumdikot Mahadev Cable Car with a combined investment of NPR 1.604 billion.
The investment structure includes 80% bank financing and 20% equity funding. According to the developer company Pumdikot Mahadev Cable Car, land acquisition is currently underway for infrastructure development.
Cable car projects typically require investment in fundamental physical infrastructure, including upper and lower stations. The cable car will be 1.1 kilometers long, with an estimated cost of NPR 1.45 billion per kilometer.
The developer aims to complete the project by mid-July 2026. The estimated timeline for completion is about 1.5 years. However, any unforeseen delays or cost escalations could impact the company’s financial profile due to rising interest during the construction phase. It is expected to take up to 11 years to repay the project loan after operations begin.
Established in 2023, Pumdikot Mahadev Cable Car is being developed with a focus on Pumdikot in Pokhara Metropolitan City. The area features a hilltop Mahadev statue with scenic views of Pokhara city and the Annapurna range, making it a potential draw for both pilgrims and tourists.
The key figures leading the project are Rajesh Babu Shrestha from Chitwan Koirala Group and Arjun Prasad Sharma from Agni Group. Notably, Chitwan Koirala Group has been operating the country’s first cable car, the Manakamana Cable Car, since 1998. The company has a loan rating of NPR 1.284 billion.
Recently, cable car projects paired with resorts have been gaining momentum. Currently, cable cars are in operation in Manakamana, Chandragiri, Maulakali, Lumbini, and Kalinchowk.
