MIC grants permission for Zwekapin cable car project

NATIONAL NEWS

Myanmar Investment Commission (MIC) has granted permission in the first week of March to implement Zwekapin cable car project, which will take place at the foot of Mount Zwekapin in Kayin State, according to an announcement released by the MIC.
This project is 100 per cent local investment. It is granted as a business in the hotel sector, and the cable cars will be available at the foot of Mount Zwekapin in the vicinity of the Zwekapin forest, according to the MIC announcement. MIC has also permitted nine other businesses in addition to the Zwekapin cable car project. The values of all projects are worth more than US$130 million.
Zwekapin mountain is located seven miles south of Hpa-an and is 2,734 feet above the sea level. Cable car project was started in 2018 and four companies are jointly implementing the project. Zwekapin Land & Cable Car Development Company Limited was founded with four directors in 2018. The company expected that the whole project will cost more than $12 million.
“Zwekapin cable car will run in May 2020. Two coaches will be installed with each being a capacity of 50 passengers. The estimated four-minute ride to the mountain top will cost each passenger K5,000,” said U Banya Zaw, the company Chief Executive Officer (CEO). Hpa-an, the capital city of Kayin State, is a six-hour drive from Yangon, which is why the locals go there on weekend trips. The capital is famous for its natural limestone caves and mountain trekking. It sits on the eastern bank of Thanlyin (Salween) River. —Aye Cho (Translated by Hay Mar)

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