Sky pods running on the latest string technology will be used commercially in Nepal after a Dubai company was chosen to develop a $35 million, 7km electrified commuter track.
Similar to a cable car but using more efficient technology to carry autonomous uBus pods travelling in excess of 100kph, the Nepalese government has signed a contract with Dubai-based uScovery.
The company is a branch of Unitsky String Transport (UST), a Belarussian development firm that has been running a 400-metre test track at Sharjah Research, Technology and Innovation Park since 2021.
Bus is currently the only mode of public transport in Biratnagar, in Nepal’s Koshi province, where traffic congestion is a problem. By connecting an Indian border checkpoint with the city’s bus station, the aerial electric-run pod system aims to cut the congestion.
With plans to open the line within three years, it is expected to be used by thousands of commuters and those travelling between Nepal and India for medical treatment. Oleg Zaretskiy, chief executive of uScovery, said the system could serve about 10 million journeys a year.
“Nepal has chosen this because it is very economical and there is no other option for any other kind of transport, like rail or a metro line, because it's very expensive,” Mr Zaretskiy told The National.
“The costs will be paid by a private company, but the government is providing the land and a guarantee for some passenger flow, and a minimum number of passengers that will travel. Biratnagar is a very crowded place, as people are coming to the railway from the Indian side, crossing the border and then they need to reach the central bus station.”
Affordable mass transport
The sky pods move independently on high-tensile steel rails, rather than on a conventional pulley system of a typical cable car, at a cost of just $200-a-metre, UST developers have said.
Development costs in Nepal are expected to be $30 million-$35 million, depending on what size of pods are chosen for the network. There is no expected cost for the end user at this stage.
The company already operates a short, commercial track in Belarus and is exploring another 400m line at Gokak Waterfalls, in Kornakata state, India.
“There is huge interest in this in Nepal, as the government included transport as a priority policy,” said Mr Zaretskiy. “It's the same design as the Sharjah track with the size of the pods and the speed, everything else we are doing the concept design for now. The project will be as economical as possible, and everything will be electric. There will be a traction power station and each machine will be equipped with backup batteries as well, so the concept is the same.”
An agreement with Nepal was signed during the recent Koshi Investment Summit to complete the project within three years and potentially extend the system to cover 45km across the region.
The company earmarked to operate the aerial system is the Kathmandu Podway Company Pvt Ltd, founded in 2020. It aims to introduce eco-friendly urban transport to Nepal, a country with notoriously poor air quality caused by traffic and kilns used in industry, waste burning, heating and cooking.
Air quality
The most recent Air Quality Life Index (AQLI) from 2024 ranks Nepal third on a list of the most polluted nations, with an extremely high density of PM2.5 particles known to cause life-limiting respiratory problems.
According to the 2024 State of Global Air Report, poor air quality in Nepal contributed to 48,500 deaths in 2021.
“Since 2020, we have worked relentlessly to advocate for changes in transport laws and policies to support modern mobility solutions,” said Nil Bhattarai, vice president of the Kathmandu Podway company. “This project’s affordability and rapid build will be a game-changer for Koshi Province, driving economic growth, tourism and infrastructure development.”
With a metro system and high-speed rail links considered too expensive to build and run in Nepal, decision-makers have turned to alternative public transport to ease congestion in some of the country’s busiest areas.
Aasish Gajurel, chief executive of the government’s Nepal Intermodal Transport Development Board, said the sky pods would bring more green transport solutions to the country.
“The government has signed this contract with the private sector to first conduct a study and then develop under Public Private Partnerships (PPP),” said Mr Gajurel. “This is a huge step towards the development of podrails in Nepal. It has also shown that the government of Nepal is seriously considering this technology.
"Nepal cannot afford metro rail, therefore the government is convinced to develop this technology to improve transportation systems in Nepal, as this technology is relatively cheap and can be constructed in less time," he added. "Every Nepali will benefit from this project as people are suffering with their commute everyday.”
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The bio
Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
Number of hours flying in a Boeing 777: 1,200
Number of flights: Approximately 300
Hobbies: Exercising
Nicest destination: Milan, New Zealand, Seattle for shopping
Least nice destination: Kabul, but someone has to do it. It’s not scary but at least you can tick the box that you’ve been
Favourite place to visit: Dubai, there’s no place like home
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
TRAINING FOR TOKYO
A typical week's training for Sebastian, who is competing at the ITU Abu Dhabi World Triathlon on March 8-9:
- Four swim sessions (14km)
- Three bike sessions (200km)
- Four run sessions (45km)
- Two strength and conditioning session (two hours)
- One session therapy session at DISC Dubai
- Two-three hours of stretching and self-maintenance of the body
ITU Abu Dhabi World Triathlon
For more information go to www.abudhabi.triathlon.org.
LAST 16
SEEDS
Liverpool, Manchester City, Barcelona, Paris St-Germain, Bayern Munich, RB Leipzig, Valencia, Juventus
PLUS
Real Madrid, Tottenham, Atalanta, Atletico Madrid, Napoli, Borussia Dortmund, Lyon, Chelsea
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
More coverage from the Future Forum
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