The Maharashtra government on July 31 accorded the Mumbai-Pune ultra-fast Hyperloop India project a public infrastructure status.
Hailing the decision as a ‘landmark announcement’, Virgin Hyperloop announced that the project will generate hundreds of thousands of new high-tech jobs and create over $36 billion in different sectors.
Once completed, the journey time between Mumbai and Pune will be reduced to 35 minutes as opposed to the current time of around three and a half hours.
Devendra Fadnavis, Chief Minister of Maharashtra, said, “Inspired by the New India vision of Honourable Prime Minister Narendra Modi, Maharashtra will create the first hyperloop transportation system in the world and a global hyperloop supply chain starting from Pune.”
Some tests, like certifying the hyperloop safe for human passengers, are yet to get a green flag. But Virgin Hyperloop One is confident that their project in Maharashtra has almost been finalised. Hyperloop is Elon Musk’s dream transportation project, and Virgin is enabling it here.
The government named DP World – Virgin Hyperloop One consortium as the Original Project Proponent for the Mumbai-Pune hyperloop project. DP World (DPW) is set to invest $500 million USD in private capital.
“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 & Chairman of Virgin Hyperloop One.
“The dynamism shown by the State and Federal governments and public agencies in India has been visionary, and the country will reap the benefits of being a first-mover in adopting hyperloop technology,” said Harj Dhaliwal, Managing Director of India and Middle East, Virgin Hyperloop One.
Everything you need to know about the Hyperloop India project:
- The Mumbai-Pune distance of approximately 200 kilometres will be completed in duration of just 35 minutes. Currently, it takes three-and-a-half to four hours to travel by train.
- The Hyperloop train will run from BKC in Mumbai to Wakad in Pune, covering a total distance of 117.5 km and will run at a speed of 496 km per hour.
- FDI will tune in INR 70,000 crore in the 7-year-long project. Since it’s a public infra project, other firms will also have an option of bringing their proposals on board. They might bag the contract in case they offer 10% betterment than Virgin.
- In its pilot run during the first phase, the train will cover a distance of 11.8 km in the Pune Metropolitan region at a cost of INR 5,000 crore.
- The Hyperloop will transport passengers or cargo in pods, which will pass through a sealed vacuum tube designed to nullify air resistance.