GEORGE TOWN, August 24 – Bank Pembangunan Malaysia Berhad (BPMB) and Hartasuma Ropeways Sdn Bhd have inked a landmark RM367.2 million financing deal to kickstart full-scale construction of the New Penang Hill Cable Car Project.
Designed to carry 1,400 passengers per hour in each direction, the new system will provide a 10-minute scenic journey from the Penang Botanic Gardens to the summit, complementing the existing funicular service and addressing surging tourist demand.
Penang Chief Minister YAB Chow Kon Yeow called the agreement a “decisive step” towards sustainable tourism, while Hartasuma Executive Director Tan Sri Ravindran Menon described the project as a “legacy” initiative aimed at reshaping the Penang Hill experience.
With completion targeted for early 2027, the project will also support green mobility goals, create nearly 400 jobs, and ensure inclusive access — reinforcing Penang’s standing as a world-class, forward-looking tourism destination.
