The Government of Maharashtra, India, India has named the Virgin Hyperloop One – DP World Consortium as Original Project Proponent (OPP) for the Pune-Mumbai Hyperloop Project, making it the first hyperloop project in the world.
In a statement, Virgin Hyperloop One described it as a “landmark announcement” for the building of the Mumbai-Pune hyperloop transportation system.
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It is expected to be operational by 2025, at which point it will link central Pune, a centre of major economic and industrial zones, to the Jawaharlal Nehru Port in Mumbaiin under 35 minutes, as opposed to the current 3.5+ hours by road helping moving cargo quickly and safely.
DP World is set to invest USD$500 million to complete Phase One of the project.
The project is expected to bring over $36 billion in wider socio-economic benefits, as well as to create new hyperloop component and manufacturing opportunities for the region.
As an all-electric, emission-free technology, the Hyperloop technology will also contribute in eliminating a great deal of carbon emissions and other pollutants.
“Inspired by the new India vision of Honourable Prime Minister Shri. Narendra Modi, Maharashtra will create the first hyperloop transportation system in the world and a global hyperloop supply chain starting from Pune,”Devendra Fadnavis, Chief Minister of Maharashtra said in a statement.
“We have just named DP World – Virgin Hyperloop One consortium as the Original Project Proponent for the Mumbai-Pune hyperloop project and preparing to start the public procurement process.
“Maharashtra and India is at the forefront of hyperloop infrastructure building now and this is a moment of pride for our people.”
“Support for hyperloop transportation systems is mounting across the world and India has led the charge to bring hyperloop to fruition since the early stages of development,” said Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World and Chairman Virgin Hyperloop One.
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Virgin Hyperloop One is the only hyperloop company who has assembled a full-scale hyperloop test track and operated a full-scale hyperloop vehicle using electric propulsion and magnetic levitation under near-vacuum conditions.
“This is history in the making. The race is on to host the first hyperloop transportation system in the world, and today’s announcement puts India firmly in the lead,” said Jay Walder, CEO of Virgin Hyperloop One. “This is a significant milestone and the first of many important steps toward bringing hyperloop to the masses.”
Harj Dhaliwal, Managing Director of India and Middle East, Virgin Hyperloop One said, “Once commercialized, it will transform the Pune-Mumbai corridor into a mega-economic region moving people and cargo between these two centers in a cost-effective and sustainable manner.”
“This process creates a blueprint for a hyperloop network spanning the entire nation. We would like to thank the government of India, state of Maharashtra and partnershing agencies for getting the project from vision to reality,” Dhaliwal added.