Summary
FINANCIAL risks were ignored by a public agency while planning the Cairngorm funicular railway, which eventually ran nearly GBP 5 million over budget, a report said.
Audit Scotland yesterday published a review of the 17-year history of the project and the involvement of Highlands and Islands Enterprise.See the full content of this document
Extract
Financial Risks 'Ignored' in Funicular Plans
HIE subsidised the building of the funicular, but had to step in to take over the railway operators, CairnGorm Mountain Ltd (CML), which had debts of mor...
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