Hyderabad: America-based research firm Hyperloop Transportation Technologies (HTT), 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.
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,” said Krishna Kishore, chief executive of APEDB.
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.