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Loan to Cairngorm Mountain Ltd (08/05/08)
The Highland Council has backed moves to secure the future of the funicular railway at Cairngorm and to protect jobs at the important tourism centre by agreeing to a request by HIE to sell for £1 its £1,000,000 loan and accrued interest to Cairngorm Mountain Ltd.
The Council agreed to make available the loan to Cairngorm Mountain Ltd in December 2001 as part of the funding package for the £20 million Cairngorm Funicular Project.
Convener Sandy Park said: “The Council fully recognises the importance of the Cairngorm Mountain operation and the jobs it creates. We support the action being taken by HIE to ensure the sustainability of the business and it was on this basis the Council has agreed to sell our loan to HIE for £1.”