The PPP model, with funding primarily from private investors, will potentially turn a trip of more than an hour into a 5-min ride between Amaravati & Vijayawada.
HYDERABAD: Hyperloop Transportation Technologies (HTT), an American research firm formed using crowd collaboration to develop ultra-high-speed transportation system based on Hyperloop concept, has agreed to build India’s first Hyperloop, connecting Andhra Pradesh’s proposed Greenfield capital city Amaravati and Vijayawada.
HTT has on Wednesday signed a memorandum of understanding with the Andhra Pradesh Economic Development Board (APEDB), marking it first such agreement in India for the new transportation system.
Andhra Pradesh is India’s seventh largest state with a population of over 50 million.
The public private partnership (PPP) model, with funding primarily from private investors, will potentially turn a trip of more than an hour into a 5-minute ride between Amaravati and Vijayawada.
“The project will involve little over $200 million of investment and take a year or so to complete it once all the approvals and Right of Way were in place,” Krishna Kishore, chief executive of APEDB, told ET.
“We are extremely delighted to have entered into a MoU with the government of Andhra Pradesh to bring the HTT Hyperloop to India,” said Bibop Gresta, chairman and co-founder of HTT, in a statement. “In partnering with Andhra Pradesh, HTT will work with local stakeholders to build the regulatory standards necessary for safe and efficient operation.”
HTT said it will conduct a six-month feasibility study commencing in October during first phase. Working with partners in the public and private sector, HTT proposes to analyse the surrounding cityscapes to create the best route between the two cities while identifying all pertinent stakeholders in the region. After completing the feasibility, HTT in the second phase of the project proposes to construct and build its first Hyperloop in India.
“By collaborating with Hyperloop, Amravati is embracing a prototype for the mobility of tomorrow,” said Krishna Kishore of APEDB in a statement.
“India is entering into a new era in terms of technology and our goal is to put India on the global map by developing and implementing green technologies, the first Hyperloop in Amravati,” said Aviruk Chakraborty, advisor to APEDB.