The Varanasi ropeway project, a significant infrastructure initiative in Prime Minister Narendra Modi’s constituency, has garnered Rs 322 crore in funding from Switzerland’s Xport Finance. This financial boost marks a pivotal step forward for the National Highways and Logistics Management Limited (NHLML) and Vishwa Samudra Engineering (VSE), who have formed a 60:40 joint venture to undertake the project, with NHLML covering 60% of the estimated Rs 807 crore cost.
Executive Director of VSE, shared insights into the project’s progress, revealing that construction is likely to be completed ahead of the initial target of August 2025, with a revised completion date anticipated by early next year. This acceleration in timeline reflects the company’s robust commitment to improving urban mobility in Varanasi, a city that attracts millions of pilgrims and tourists each year. The 3.75 km ropeway is designed to transport over 90,000 passengers daily, with each gondola accommodating ten riders. This innovative transport solution not only promises to alleviate congestion on the ground but also aims to enhance the overall travel experience in the densely populated city. Moreover, the project will be developed using the hybrid annuity model, which involves 60% of costs being disbursed during construction, and the remaining 40% during the operational phase. VSE has partnered with Bartholet Maschinenbau of Switzerland, leveraging their technical expertise to ensure the highest standards in construction and operation.
VSE’s ambitions do not stop with this project; the company is poised for substantial growth, projecting a revenue increase of over 55% in 2024-25, driven by an order book exceeding Rs 20,000 crore. This growth trajectory highlights the company’s expanding role in the infrastructure sector, particularly in sustainable transport solutions. Sustainability is a key aspect of the Varanasi ropeway project. By offering an environmentally friendly mode of transport, the initiative aims to reduce reliance on traditional vehicular traffic, thereby lowering emissions and promoting a greener urban environment. Community sentiment towards the project is largely positive, with many residents and stakeholders expressing excitement about the potential for improved accessibility and reduced congestion. Public opinion indicates a strong desire for sustainable urban infrastructure, with many citizens recognising the importance of such projects in enhancing quality of life. As Varanasi continues to develop as a key tourist destination, the ropeway project is expected to play a crucial role in shaping the future of urban transport in the city.
