Virgin Group to build the world’s first Hyperloop One transportation system connecting Mumbai and Pune.
The government has joined hands with the Richard Branson-backed firm to build an operational track for the ultra-fast mass transit platform, which is expected to become operational by 2025, making it the first-ever commercial Hyperloop One system in the world.
The first hyperloop route will link central Pune with the megapolis as well as the Navi Mumbai international airport, the foundation stone for which was laid by Prime Minister Narendra Modi on Sunday evening.
“We have signed an agreement with Maharashtra to build a Virgin Hyperloop between Mumbai and Pune, beginning with an operational demonstration track in the region,” Virgin Group chairman Richard Branson said on the first day of Magnetic Maharashtra investor summit in Mumbai on Sunday.
The Mumbai-Pune Hyperloop One is expected to clock approximately 150 million passenger trips annually and will connect around 26 million people, according to Branson.
Virgin Group says the project has the potential to bring around $55 billion in the form of economic benefits and the money saved on operational costs, provided it remains operational for around 30 years. It is also expected to cut the emission of greenhouse gases by around 86,000 tons in a span of 30 years.
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