MEXICO CITY, Oct. 4 (Xinhua) -- Mexican President Enrique Pena Nieto on Tuesday inaugurated the country's first mass transit cable car to alleviate traffic congestion in the densely populated city of Ecatepec.

The cable car, which is called Mexicable and designed to transport some 29,000 passengers a day, is to operate in La Canada, a working class neighborhood in Ecatepec in the central State of Mexico.

The new option cuts commuting time by more than half between the line's two terminals, which now takes 17 minutes instead of the more-than-40- minute ride by bus.

The cable car, built with an investment of 1.7 billion pesos (88 million U.S. dollars), will also be cheaper than the bus, costing six pesos per ride, compared to 8 pesos by bus.

Pena Nieto said the cable car "will contribute to transportation that is much more efficient, much safer and much faster" for the area.

Some 185 cable cars capable of carrying up to 10 passengers each will cover the line.