PLANS to secure the sustainable future of the Cairngorm funicular railway can now get under way following agreement that ownership of its operating company, CairnGorm Mountain Ltd, will transfer to Highlands and Islands Enterprise (HIE).
In the face of a declining domestic ski market, CML has been hampered from pursuing plans to diversify its operations because of a debt burden incurred through its investment when the railway – the only one of its kind in Scotland – started up in 2001.
However, its principal stakeholders, including The Highland Council, Bank of Scotland Corporate and CairnGorm Mountain Trust, have fully supported a proposal that HIE should take over the operating company under terms which reduce its debt and allow future ambitions to be explored.
MEDIA RELEASE posted by Highlands and Islands Enterprise. You too can post a media release (aka a press release) on allmediascotland.com. For more info, click here.