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Elon Musk-backed Hyperloop Transportation Technologies (HTT) on Tuesday said the company is ready to build a Hyperloop between Mumbai and Pune, but Union Transport Minister Nitin Gadkari will take the final call on going ahead with the project.
Hyperloop is a mode of public transport that involves thrusting a pod-like vehicle through a tube at high speeds. A Hyperloop runs faster than an aircraft and can achieve speeds of 1,120 kmph.
Asked about the regulatory challenges to build a Hyperloop in India, Gresta said Gadkari, during the meeting, had expressed the Indian government's willingness to help the company in this regard.
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Asked whether the company was looking for partners in India, Gresta said two local companies are working with Hyperloop.
Asked about the size of investment needed to build the Hyperloop, Gresta said right now, the company is not asking for money, but land to get the project going.
"I think India is a perfect country to implement this project because the roads are not that good. Here, the transportation is not capable of sustaining growth," he said.
He said the company has received investments of over $100 million to build Hyperloops in several countries.
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