The Saudi Ministry of Transport (MoT) announced on Thursday a contract agreement with Virgin Hyperloop One (VHO).
VHO will conduct a groundbreaking pre-feasibility study on the use of hyperloop technology for the transport of passengers and cargo. So, it will lay the groundwork for a network of hyperloop routes to be considered across Saudi Arabia.
Crown Prince Mohammed bin Salman earlier visited the headquarters of the company.
"Crown Prince outlined transport's role in shaping the future of the Kingdom's economy within Vision 2030." Minister of Transport Eng. Saleh Bin Nasser al-Jasser said
"Entering a new decade, we to make rapid progress in building the infrastructure required to define mobility for the future. This is to enable the efficient movement of people and goods. With the transformative hyperloop technology, Saudi Arabia will unlock unparalleled benefits for its people. Besides, the economy but will continue to lead the region into an era of prosperity."
Jay Walder, CEO of Virgin Hyperloop One, said: "The system would be ten times more energy-efficient than short haul flights. It will also be 50% more efficient than high-speed trains. In fact, a hyperloop in the region could be powered entirely by solar panels which cover the tube. This also makes the technology hugely attractive to the sun-abundant Kingdom."
Harj Dhaliwal, managing director for the Middle East and India, Virgin Hyperloop One, said that "this new agreement with the Ministry of Transport in Saudi Arabia brings us one step closer to the realization of our vision for a 'Connected Saudi Arabia' and a 'Connected Gulf'.
"As the country's leadership embraces new and innovative technologies, VHO is uniquely positioned as a forward-thinking transportation partner, engineered for the 21st century. VHO can connect major hubs in the country, and potentially the entire region, which also supports the leadership's renewed effort to propel the Kingdom's economy to the forefront of innovation."
