Mohan Chauhan, Commissioner (Tourism) signed the MOU on behalf of the government while Trilok Kapoor, General Manager, Malana Ropeway Pvt Ltd, a subsidiary of Tata Infrastructures, signed on behalf of the Company.
The project would be commissioned within four years.
The Company deposited Rs 6.80 crore as "project Success" amount and annual license fee would be payable at the rate of Rs 1.80 crore with ten percent annual increase.
The project, which was earlier awarded to Power Himalaya Ltd, was cancelled by the Cabinet on February 27, 2014, as the company had failed to pay the project development fee and other dues.
The company finally tied up with Tata Infrastructure Ltd and formed a joint venture Malana Ropeway Pvt Ltd with whom the MoU will be signed here today.
There are 2,300 taxi operators, ferrying tourists to Rohtang on a daily basis while the NGT has restricted the number of vehicles to 1,000.
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