The ropeway with a span of about 2.5-km is estimated to cost about Rs 250 crore.
Kapil Sharma, General Manager, Himachal Infrastructure Development Board, said a large chunk of land has to identified at Tuti Kandi for the starting point where parking for 500 vehicles, a restaurant and other amenities would be created.
The state Cabinet has already given its nod for the project to be executed on a Private Public Participation mode.
More than half a dozen private entrepreneurs have evinced interest in the project but formal process would commence after a detailed report is prepared and tenders are floated, they said.