Mumbai-Pune route may be world’s first to see Hyperloop One

The Richard Branson-led Virgin Group on Sunday signed a framework agreement with Maharashtra to build a hyperloop transportation system between Mumbai and Pune, which would reduce travel time between the two cities to a mere 14-25 minutes from the three hours it takes at present.

The Hyperloop One system, which will also connect with the upcoming Navi Mumbai International Airport, will become operational in 2024. The cost will be pegged at about the same as a taxi or air fare.

The foundation stone for the transport system was laid by Prime Minister Narendra Modi along with Maharashtra chief minister Devendra Fadnavis during the Magnetic Maharashtra investor summit. It will begin with an operational demonstration track.

''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 Sir Richard Branson said. With easier access to airport gates, the loop will be able to ferry 150 million passengers every year.

Branson said the Pune-Mumbai route could result in Rs3,50,000 crore in socio-economic benefits, time saving, accident reduction and operational cost savings in over 30 years of operation.

The key investors of Hyperloop One apart from Branson are Sultan Ahmed bin Sulayem, chief executive and group chairman of DP World, and Ziyavudin Magomedov, chairman of the Summa Group.

What is interesting is India may well be the first country to see Hyperloop One, debuting even before the Middle East, Northern Europe and the USA, where Virgin is considering rolling out the service.

Speaking on the sidelines of the event, Branson termed India as a gigantic opportunity, and his plans to make India an export hub for the Hyperloop tubes. These tubes will operate autonomously and will be electric powered.

''Three years from now we will finish the test run on this route and six to seven years from now the route will be commercially opened," he said.

Hyperloop transport system will allow for passengers, freight to be transported at super-fast speeds, more than 1,000 km per hour, which is faster than airlines, in a levitating pod that will travel in a vacuum tube. Last year, the Andhra Pradesh government signed a memorandum of understanding with Hyperloop Transportation Technologies (HTT) for developing the project.

Most of the spending will be privately funded, while the government will help Virgin in moving to the next stage of feasibility study. The company is currently in discussion with various business houses and groups, and sees the project to be put in fruition with an Indian partner.

"We are in discussion with lot of different people in lot of different areas. I dont think we can give you anything specific right now. But we are going to tap into the best brains in India to make it possible,'' Branson said.

Branson said the the fifth generation transport system will create tens of thousands of jobs, helping to attract new business and investment in the region. ''The 100 per cent electric, efficient system will also ease severe expressway congestion and could reduce greenhouse gas emissions up to 86,000 tons over 30 years,'' he said.

The proposed project in Maharashtra will begin after a six-month in-depth feasibility study, which will analyse and define the route alignment, including environmental impact, economic and commercial viability, the regulatory framework, and cost and funding model suggestions.