As reported, the Government of Maharashtra has officially declared that it will take forward the construction of the high-speed transit technology between Mumbai and Pune. Reports also indicate that Virgin Hyperloop One and the shipping company DP World are teaming up to make this project a reality in India.
As reported from a Hyperloop press release, while the project will serve the public, it will be entirely funded with private investment. The Dubai-based port operator, DB World, will spend $500 million up front to complete the project’s first phase, with the rest of the required funding to complete the project coming from other investors.
With the hyperloop being tagged as a public infrastructure project, Maharashtra will formally solicit bids from companies to build it. As reported, Virgin Hyperloop One will also have to participate in the bidding process to secure the contract. In 2017, the company had signed a contract with Maharashtra to study the impact of bringing hyperloop technology to the region. While testing of the Virgin Hyperloop One in Las Vegas has seen the pods move up to 240 miles per hour, the technology has not yet been tested with human passengers. If successful, the three-and-a-half-hour trip between Mumbai and Pune could be reduced to just around 30 minutes.