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.
“Maharashtra will create the first hyperloop transportation system in the world and a global hyperloop supply chain starting from Pune. Maharashtra and India are at the forefront of hyperloop infrastructure building now and this is a moment of pride for our people,” Maharashtra Chief Minister Devendra Fadnavis said.
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. “The project will create hundreds of thousands of new high-tech jobs, generate over $36 billion in wider socio-economic benefits, and create new hyperloop component and manufacturing opportunities for Maharashtra to export to the rest of the world,” said Virgin Hyperloop One.