Japanese loan anticipated for Kayin's cable car
The Zwekapin cable car project in Kayin State will proceed as planned, thanks to a potential loan from Japanese individuals.
“A high-ranking Japanese official as well as some shareholders of Toshiba Corp will visit us this month and they are ready to financially support the project,” Sayadaw Badanda Kawida Zaka told Daily Eleven. He added that they estimated that the project would require US$13 million.
Unveiled earlier this month, the project has shown little progress due to lack of fund. A charity concert was hosted in May to raise donations.
The cable car will facilitate the pilgrims and travellers to the Zwekapin Mountain, where Zwekapin Pagoda is located at the level of 2,734 feet above the sea level. The area in Hpa-an, the capital city of Kayin State, is famous for the green scenery but has welcomed few westerners. The cable car completion is expected to boost tourism as well as a symbol of peace building.
The construction will be handled by Malaysia-based engineering firm SMET Sdn Bhd, with assistance from a local company, San Tit Co. Soil testing and cable design is completed. The monk said that wind turbines will be put up to generate electricity, which would reduce the operating cost.
“The Japanese said they would lend the amount we require, for a period of 30 years,” the monk added. “Now, we have amassed about Ks 3 billion from donation. We still welcome more donations. I will push forward until the project is finished.”
