Page last updated at 15:23 GMT, Monday, 19 May 2008 16:23 UK

HIE takeover of mountain railway

CairnGorm Mountain funicular railway
The funicular railway started running in 2001

The Cairngorm ski resort and funicular railway have been taken over by development agency Highlands and Islands Enterprise (HIE).

It follows agreements reached with Bank of Scotland Corporate and CairnGorm Mountain Trust on large debts owed by CairnGorm Mountain Limited (CML).

Highland Council had previously agreed to write off a 1m loan to CML.

The running of the mountain railway, which started operating in 2001, is expected to be put out to tender.

Douglas Yule, HIE's director of operations, said: "We'll now be meeting with stakeholders to draw up plans which can secure the sustainable future operation of the funicular railway."

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