DP World CEO Takes On Hyperloop Challenge
Virgin Hyperloop One has announced that DP World CEO Sultan Ahmed bin Sulayem will lead the company’s efforts to commercialize and implement the world’s first Hyperloop system, after being appointed by the company’s board as its new Chairman.
The inclusion of bin Sulayem will complement the February 2018 announcement that the two companies will collaborate on a joint Hyperloop project between the Indian cities of Pune and Mumbai.
Work on the project is expected to begin in 2019, and it will see 11 kilometers test loop being laid between the two cities.
Once finished, it is expected to reduce travel time between four hours to 25 minutes.
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Bin Sulayem, who will replace Sir Richard Branson, said: “As we enter uncharted territory in implementing an entirely new kind of mass transportation system, we needed a leader with a deep understanding of public transportation, experience in infrastructure financing, a track record of project delivery, and success working with government and private sector partners.
The new initiative will also see Jay Walder, a Partner at McKinsey take over as CEO. Walder recently ran the Global Infrastructure Practice.
He said: “I have focused my career on using technology to advance innovation in transportation, so I could not pass up the opportunity to lead the company that has pioneered hyperloop.
“I look forward to joining the company at this incredibly exciting time and working with our partners to revolutionize sustainable urban development and travel.”