Virgin Group Founder and Virgin Hyperloop One Chairman Sir Richard Branson announced yesterday the historical agreement with the Government of Maharastra to develop first hyperloop route in India in the presence of the Hon’ble Prime Minister Narendra Modi and the Hon’ble Chief Minister of Maharashtra Devendra Fadnavis.
Virgin Hyperloop One has developed the first transport system that makes possible for an electric vehicle to travel at high speeds magnetically suspended and propulsed along a tube where almost all the air is removed.
The historic signing of the Maharastra Mumbai- Pune took place at the Magnetic Maharashtra event was also attended by Virgin Hyperloop One board members and key investors Sultan Ahmed bin Sulayem, CEO and Group Chairman of DP World, and Ziyavudin Magomedov, Chairman of Summa Group.
Virgin Hyperloop One is the only company in the world that has built a fully operational hyperloop system. Hyperloop One team has the world’s leading experts in engineering, technology, and transport project delivery, working in tandem with global partners and investors to make hyperloop a reality, now. Virgin Hyperloop One is backed by key investors including DP World, Caspian VC Partners (part of Summa Group), Virgin Group, Sherpa Capital, Abu Dhabi Capital Group, SNCF, GE Ventures, Formation 8, 137 Ventures, WTI, among others.
From Pune to Mumbai in just 25 minutes and 150,000 tons greenhouse gas cuts each year
From Pune to Mumbai in just 25 minutes and greenhouse emissions cut at 150,000 tons each year
The hyperloop route will link central Pune, Navi Mumbai International Airport, and Mumbai in 25-minutes, connecting 26 million people and creating a thriving, competitive megaregion.
The high-capacity passenger and cargo hyperloop route eventually will support 150 million passenger trips annually, saving more than 90 million hours of travel time, and providing citizens with greater opportunities and social and economic mobility.
The hyperloop system will also have the potential for the fast movement of palletized freight and light cargo between the Port of Mumbai and Pune, creating a robust backbone for on-demand deliveries, supply chains, and next-generation logistics.
Once operative, the Pune-Mumbai route could result in $55 Bn (INR 350,000 crores) in socio-economic benefits (time savings, emissions and accident reduction, operational cost savings, etc.) over 30 years of operation, according to an initial pre-feasibility study completed by Virgin Hyperloop One.
The 100% electric, efficient hyperloop system will ease severe expressway congestion and could reduce greenhouse gas emissions by up to 150,000 tons annually.
First test truck not before Feb. 2020
The Pune-Mumbai hyperloop project will begin with a six-month in-depth feasibility study which will analyze and define the route alignment including environmental impact, the economic and commercial aspects of the route, the regulatory framework, and cost and funding model recommendations. The feasibility study will build upon the findings of the pre-feasibility study signed in November 2017 between the Pune Metropolitan Regional Development Authority and Virgin Hyperloop One.
The project will enter a procurement stage upon the successful completion of the feasibility study to determine the public-private partnership structure.
Construction of the Pune-Mumbai hyperloop route would commence after procurement and will be completed in two phases, beginning with an operational demonstration track built between two points on the route.
The demonstration track will be constructed in two to three years from the signing of the agreement and serve as a platform for testing, certifying, and regulating the system for commercial operations. The second phase will target to complete construction of the full Pune-Mumbai route in five to seven years. Future projects could also extend the route to link central Pune with the New Pune International Airport and Jawaharlal Nehru Port in Mumbai with Pune’s industrial economic zones.
“The Pune-Mumbai hyperloop project will ultimately be executed by a public-private partnership which will save taxpayer money while delivering a transport option that will help the State of Maharashtra support economic growth, improve sustainability, and meet the transport demands,” said Kiran Gitte, CEO of the Pune Metropolitan Region Development Authority.
“We have always believed that India would be a tremendous market for hyperloop. The Pune-Mumbai route is one of the strongest economic cases we have seen to-date,” said Virgin Hyperloop One CEO Rob Lloyd. “The State of Maharashtra has made a strong commitment to building the first hyperloop route in India. We are looking forward to partnering with the State as well as our partners to make the Pune-Mumbai route a reality.”
51% of investment in India goes to Maharashtra
Indian Prime Minister Narendra Modi said, “51 per cent of total investments in India have come to Maharashtra, and the state is attracting global investors. The state’s overall development in the past few years is a shining example of change thinking and improving conditions in the country. Maharashtra government was ahead of all other Indian states in terms of infrastructure spend and the state is on its way to achieving its bold vision of a trillion-dollar economy.”
“I believe Virgin Hyperloop One could have the same impact upon India in the 21st century as trains did in the 20th century. The Pune-Mumbai route is an ideal first corridor as part of a national hyperloop network that could dramatically reduce travel times between India’s major cities to as little as two hours,” said Sir Richard Branson. “Virgin Hyperloop One can help India become a global transportation pioneer and forge a new world-changing industry.”
The Governor of Maharashtra, Shri C. Vidyasagar Rao, the Union Minister for Commerce & Industry, Shri Suresh Prabhakar Prabhu, the Chief Minister of Maharashtra, Shri Devendra Fadnavis, Sir Richard Branson (Founder of Virgin and President of Hyperloop One) and other dignitaries are also seen. Photo, Press Bureau of the Government of India.
“With Virgin Hyperloop One, we can create a sustainable infrastructure that will enhance the State of Maharashtra’s competitiveness and attract new investment and businesses,” said the Chief Minister of Maharashtra Devendra Fadnavis. “The Pune-Mumbai hyperloop route will be an economic catalyst for the region and create tens of thousands of jobs for India’s world-class manufacturing, construction, service, and IT sectors and aligns with Make in India initiatives.”
Hyperloop One projects spreading all over the world
The agreement signed in India is the latest in a series of projects for testing and building Hyperloopo routes all over the world.
First study by Hyperloop One, FS Links and KPMG on a Hyperloop system for a 28 minute link between Helsinki and Stockholm dates back to 5th July 2016.
DP World signed in August 2016 an agreement to study a Hyperloop route to improve Jebel Ali Port’s efficiency, profitability and sustainability.
Then, in November 2016, came Dubai’s Roads and Transport Authority (RTA) agreement to evaluate a Hyperloop One link between Dubai and Abu Dhabi reducing transport time between both cities from 90 minutes to 12 minutes.
Hyperloop One and the Colorado Department of Transportation supported by AECOM entered into a public-private partnership that will begin a feasibility study in Colorado (USA) in September 2017.
In October 2017 Hyperloop One and Virgin Group enter into a strategical partnership with Virgin investing in the tech company.
Hyperloop completed the third phase of testing for its transport system in December 2017.
Image over the headline.- Hyperloop One XP-1 the EV able to transport the passengers inside the Hyperloop tube at ultra high speed. © Virgin Hypereloop One.
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