Indian state approves project status for DP World-backed hyperloop project

Maharashtra has approved infrastructure project status for the $10 billion hyperloop that aims to become the world’s transportation system of its kind.
The state also approved a DP World-Virgin Hyperloop One consortium as the original project proponent (OPP) for the project that will cut down travel time between Mumbai and Pune to less than 35 minutes, compared to the current 3.5 hours plus. DP World said it is set to invest $500 million in private capital to complete phase one of the project, while further FDI of billions of dollars is expected.
The project will generate hundreds of thousands of new high tech jobs, create over $36 billion in wider socio-economic benefits, and create new hyperloop component and manufacturing opportunities for Maharashtra to export to India and the rest of the world.
Devendra Fadnavis, Chief Minister of Maharashtra, said, “We will create the first hyperloop transportation system in the world and a global hyperloop supply chain starting from Pune. We have just named DP World-Virgin Hyperloop One consortium as the OPP for the Mumbai-Pune hyperloop project and preparing to start the public procurement process.”