FIL Industries to Raise Rs 2 Billion for Ropeway Expansion

17 Jul 2025 CW Team

FIL Industries is set to expand its ropeway infrastructure business and aims to raise Rs 2 billion through equity funding to support this growth, according to Executive Director Syed Junaid Altaf.

The company has already invested approximately Rs 7.5 billion across three projects—Skyview by Empyrean at Patnitop, Dehradun-Mussoorie, and Yamunotri-Kharsali. Looking ahead, FIL intends to develop an additional four to five ropeway projects over the coming years.

To streamline financing, FIL plans to consolidate all current and upcoming ventures under a single Special Purpose Vehicle (SPV), which will be wholly owned by the company.

“We are looking to raise at least Rs 2 billion in equity, which should help us complete at least three more projects,” said Altaf. FIL is exploring funding options through infrastructure-focused investment funds, private equity players, or strategic partnerships.

By the financial year 2030–31, the firm anticipates transporting between 3.5 million and 4.5 million passengers annually across its ropeway network. While the Patnitop facility is already operational, the Dehradun-Mussoorie ropeway is expected to commence service in 2026, followed by the Yamunotri-Kharsali route in 2028.

The total investment for FIL’s upcoming ropeway projects is projected to be between Rs 10 billion and Rs 12 billion.

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