Oceania

Queenstown Cable Car Project Reaches Initial NZ$265 Million Lending Agreement

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Courtroom-sketch editorial illustration of an archival 2008 elevated view of Queenstown buildings beside Lake Wakatipu, wooded peninsulas and snowy mountains; geographic context for the proposed transport project, rendered in warm ochre and slate-blue pastel strokes.

New Zealand ministers Chris Bishop and Erica Stanford announced that Southern Infrastructure Limited has reached an initial agreement with Private Capital Group for approximately NZ$265 million in lending for its proposed Queenstown cable-car network. Part of the lending would draw on capital invested through the Active Investor Plus visa programme. The planned network would connect central Queenstown, Frankton, Queenstown Airport and Ladies Mile. The facility remains subject to due diligence, credit approval and final documentation, while design, consenting and commercial work are still outstanding. Southern Infrastructure is preparing its substantive application under the Fast-track approvals process.

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