Hyperloop One inks framework agreement with Maharashtra government.
India may get the most modern hyperloop travel technology much ahead of many other countries in the world, including the United States.
Hyperloop One, a US-based company backed by English business magnate Richard Branson, has inked a framework agreement with the Maharashtra state government to seek the possibilities of implementing the technology that may revolutionize the way people travel.
The Virgin Hyperloop will connect Pune and Mumbai, the two largest cities in Maharashtra. The travel time to cover the roughly 93-mile long stretch, one of the busiest highways in India, is expected to be reduced to 15 to 20 minutes once the project gets completed.
Branson announced on Virgin’s website that his company has entered into an agreement with Maharashtra to build a hyperloop system between Pune and Mumbai.
“Delighted to be here in India with the Virgin Hyperloop One team to share some very exciting news for the future of transportation in the country. The Indian State of Maharashtra has announced their intent to build a Virgin Hyperloop between Pune and Mumbai, beginning with an operational demonstration track,” said Branson.
The agreement was signed on Sunday in the presence of the Prime Minister Narendra Modi and Maharashtra Chief Minister Devendra Fadnavis during the Magnetic Maharashtra event.
“It was an honor to have Indian Prime Minister Narendra Modi and the Chief Minister of Maharashtra, Devendra Fadnavis, alongside us as we signed a Framework Agreement for the project,” said Branson.
According to the company, “the Hyperloop route would link central Pune, Navi Mumbai International Airport and Mumbai in 25 minutes and connect 26 million people.” It is expected to carry out 150 million passenger trips per year.
If everything goes as planned, India would become the first hyperloop market leaving behind Middle East, Northern Europe or the United States of America.
Apart from considerably reducing the travel time, the project would also bring many more benefits to the state. A study conducted by Hyperloop’s team has revealed that the technology would result in $55 billion in socio-economic benefits, time savings, accident reduction and operational cost savings over 30 years of operation.
The high-capacity passenger and cargo hyperloop system is expected to create thousands of jobs and bring huge investment into the region. The 100 percent electric, efficient system will also ease severe expressway congestion and could reduce greenhouse gas emissions up to 86,000 tons over 30 years.
“As Virgin Hyperloop One Chairman, I’m incredibly excited about the potential to truly transform not just transportation, but wider society. Virgin Hyperloop One can help India become a global transportation pioneer and forge a new world-changing industry,” said Branson.
“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 will dramatically reduce travel times between most of India’s major cities to under two hours,” he added.