Queenstown Cable Car Project Secures $265 Million in Private Lending

The Queenstown Cable Car project, led by Southern Infrastructure Limited, has attracted $265 million in private lending through the Government's Active Investor Plus (AIP) visa. The proposed cable car will connect central Queenstown, Frankton, Queenstown Airport, and Ladies Mile, providing a new rapid public transport option. The project has reached an initial agreement with Private Capital Group to provide the necessary funding. The AIP visa aims to attract wealthy investors to New Zealand and get more international capital flowing into the country's economy. The proposed financing is a significant milestone for the project, which still requires design, consenting, and commercial work before construction can begin.