Queenstown cable car gets lift through AIP visa

The Queenstown Cable Car project led by Southern Infrastructure Limited (SIL) has attracted $265 million in private lending through the Government’s Active Investor Plus (AIP) visa, Infrastructure Minister Chris Bishop and Immigration Minister Erica Stanford say. The Queenstown Cable Car proposed by SIL would connect central Queenstown, Frankton, Queenstown Airport and Ladies Mile, providing a new rapid public transport option through some of the district’s busiest and fastest-growing areas. SIL has reached an initial agreement with Private Capital Group (PCG) to provide around $265 million in lending towards its delivery. Private Capital Group is an approved fund manager under the Government’s Active Investor Plus visa, with the proposed facility drawing partly on capital invested in New Zealand through the programme. “Queenstown is one of the fastest-growing parts of the country and its geography places some very real constraints on its transport network. “There is only so much space for roads in Queenstown. As the district continues to grow, we need to be open to different and innovative ways of moving large numbers of people around. “Cable cars are an effective option because t

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