Riyadh – Mubasher: Al Baha Investment and Development on Sunday reiterated its ownership of the cable car project, indicating that the project has not been scrapped yet.

The company had previously announced plans to halt the operation of its cable cars owing to their high operating costs and low revenues.

Al Baha said this step came as part of its scheme to cut expenses and enhance its financial position.

Cable cars are the simplest and least expensive means of transportation. Easily linking mountain-separated cities, cable cars – or the aerial tramway - are often used as a means of entertainment in countries with natural scenery and snow.

By 11:15 am Saudi time, Al Baha’s stock was last up 1.35% to SAR 24.06.