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."


SEE ALSO
Takeover plan for mountain firm
09 May 08 |  Highlands and Islands
Ski centre achieves winter target
12 Apr 08 |  Highlands and Islands
Plan to build 'Eden of the North'
30 May 07 |  Highlands and Islands
Cairngorm Estate transfer on hold
29 May 07 |  Highlands and Islands

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific