The Jammu and Kashmir Cable Car Corporation (JKSCCC) was set up in the year 1998. The corporation was allocated and initial capital of Rs. 2500.00 Lakhs to pursue the core objectives of the long-term vision. As per the "Memorandum of Articles and Association" the following objectives were laid out :
The Corporation has come a long way since its inception and in spite of its limited resources, JKSCCC has been meeting the challenges from various quarters to the best of its capabilities. JKSCCC both has a short-term and a long-term vision to take the corporation and the public experience to the next level. Besides this, the corporation has in its blueprint and plans:
JKSCCC is essentially a Corporation. It is headed by a Managing Director who is in charge of planning and operations. Ever since the current M.D. Mr. Shameem Ahmed Wani took over, the Corporation has expedited work on various fronts and take measures to boost revenues and improve quality standards to take these at par witht the best in the worls.
In the year 1988, the Government of J&K established J&K State Cable Car Corporation under the Companies Act, 1956 with an authorized capital of Rs. 2500.00 lacs to pursue the following main objectives, as laid down in its Memorandum of Articles and Association:
To establish run, manage and administer Ropeways and Cable Car Project at Gulmarg;
To establish and carry on the business of Cable Car at other Tourist resorts of the State of Jammu & Kashmir;
To develop necessary infrastructure and common facilities at different places in order to promote tourism in the State;
To establish, construct, lease out or acquire on its own Ropeways and Cable Cars at other tourist places;
To take over the running business of Gulmarg Cable Car Project at Gulmarg.
The Corporation has following functional projects at present:
Initially the Corporation was established with an authorized capital of Rs. 2500.00 lacs which was subsequently raised to Rs. 5000.00 lacs and have a paid up capital of 2357.54 lakhs.
The Corporation has following projects in pipeline which includes, Jammu Ropeway Project which is expected to be commissioned in March, 2018. Besides, the following projects are to be taken up for execution in coming years: Ropeway Project at Shivkhori, Reasi, Jammu Mini Ropeway Project at Badamwari, Srinagar Ropeway Project at Aru, Pahalgam Chairlift at Yusmarg Ropeway project at Aishmuqam (BOOT basis) Ropeway Project at Verinag, Anantnag, Kashmir
After the commissioning of Gulmarg Gondola Project in the year 1998 and Makhdoom Sahib Ropeway Project in the year 2013, the Corporation has earned revenue of Rs. 271.75 crores upto the year 2016-17 and in the last two years alonehas realized a net revenue of Rs. 72.31 Crores.