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In an impetus to the dream journey between Mumbai and Pune in under 35 minutes, the Maharashtra government has approved the Virgin Hyperloop One-DP World consortium as the "Original Project Proponent" (OPP) for the Pune-Mumbai hyperloop project -- a move that will generate jobs and over $36 billion in various socio-economic benefits.
According to Virgin Hyperloop One, the state government -- one of the first proponents of hyperloop technology in the world -- has deemed hyperloop a public infrastructure project, setting it up to be the first hyperloop project in the world.
DP World (DPW), a global trade leader and a major ports and logistics operator in India, is set to invest $500 million to complete phase 1 of the project, which will certify this new technology for passenger operations.
The hyperloop project will link central Pune with Mumbai in under 35 minutes, as opposed to the current over 3.5-hour journey by road.
"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 Chief Executive Officer (CEO) at DP World and Chairman, Virgin Hyperloop One.
To be named OPP is an incredible vote of confidence in our ability to deliver this advanced technology to the people of India and enhance their lives," he added.
There are approximately 75 million passenger journeys between Mumbai and Pune annually, which is expected to skyrocket to 130 million by 2026.
Virgin Hyperloop One's system can meet this growing demand by supporting as many as 200 million passengers annually.
"Once commercialised, it will transform the Pune-Mumbai corridor into a mega-economic region, moving people and cargo between these two centres in a cost-effective and sustainable manner.
Virgin Hyperloop One has projects underway in Missouri, Texas, Colorado, North Carolina, the Midwest, India, Saudi Arabia and the UAE.
Last month, Avishkar Hyperloop -- a student team from IIT Madras -- met Virgin Hyperloop One Co-founder Josh Geigel who praised India's effort to be the frontrunner in hyperloop technology.
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