The Queenstown Cable Car project led by Southern Infrastructure Limited (SIL) has attracted NZD 265 million in private lending through the Government’s Active Investor Plus (AIP) visa.
SIL's proposed Queenstown Cable Car would connect central Queenstown, Frankton, Queenstown Airport and Ladies Mile, providing a new rapid public transport option through some of the district’s busiest and fastest-growing areas.
SIL has reached an initial agreement with Private Capital Group (PCG) to provide around NZD 265 million in lending towards its delivery.
Private Capital Group is an approved fund manager under the Government’s Active Investor Plus visa, with the proposed facility drawing partly on capital invested in New Zealand through the programme.
Infrastructure Minister Chris Bishop said Queenstown is one of the country's fastest-growing areas, and its geography places real constraints on its transport network. As the district has continued to grow, it has needed to be open to different, innovative ways to move large numbers of people around.
According to Bishop, cable cars are an effective option because they can move people frequently and reliably without needing another road corridor. They can also be built with considerably less disruption to the existing road network than many traditional transport solutions.
The proposal would connect the town centre with Frankton, the airport and Ladies Mile, giving locals, workers and visitors another way to get around and helping take pressure off some of Queenstown’s busiest roads.
The project is ultimately a private sector proposal and still has important design, consenting and commercial work ahead of it, but reaching agreement in principle on financing of this scale is a significant milestone. It also shows the private sector bringing new ideas and capital to help solve New Zealand’s infrastructure challenges.
“Government funding alone cannot deliver every piece of infrastructure New Zealand needs. We need more private investment, more innovative funding and financing, and more projects where those who benefit help meet the cost,” said Bishop.
“The agreement in principle with PCG is a great example of the private sector bringing forward new ideas and new sources of capital to help solve New Zealand’s infrastructure challenges.”
Immigration Minister Erica Stanford said the proposed financing was a tangible example of what the Government wanted to achieve when it overhauled the Active Investor Plus visa.
The Active Investor Plus visa aims to attract wealthy, experienced investors to New Zealand and bring more international capital into productive parts of the economy. Investors can qualify for residence by investing significant amounts of money in New Zealand, including through approved managed funds which then put that capital to work in New Zealand businesses and projects.
Private Capital Group is one of those approved fund managers, and this proposed lending shows what that can mean in practice. International capital attracted through the Active Investor Plus visa could ultimately help finance a major piece of infrastructure in Queenstown.
“We refreshed the Active Investor Plus visa in April 2025 to make New Zealand more competitive internationally and to encourage investors to put their money into productive investments here,” said Stanford.
Since the changes, 949 applications have been received and 496 approved. More than NZD 2.88 billion has been committed and transferred to New Zealand, with a further NZD 2.26 billion in the pipeline.
Around 70 percent of committed capital has gone into the Growth category, which is specifically designed to encourage higher-risk, growth-oriented investment.
“We are already seeing that investment supporting New Zealand businesses and projects across sectors including technology, healthcare, horticulture and regional infrastructure,” she added.
“This is why attracting international investment matters. New Zealand has no shortage of good ideas or ambitious projects, but we are a small country with limited pools of domestic capital. These investors bring not only money, but experience, expertise and international networks that can help New Zealand businesses and infrastructure projects grow.”
The Queenstown Cable Car project has been referred into the Fast-track approvals process and Southern Infrastructure is preparing its substantive application. Subject to approvals, construction is expected to begin later this decade.
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