DP World and Virgin to build high-speed rail systems

Dubai Ports World announced today that it has reached an agreement with Virgin HyperloverOne to launch a global company to build high-speed rail systems to transport passengers and goods.
Officials say the system needs investments of tens of billions of dollars and already has huge potential in three countries - the UAE, Saudi Arabia and India.
The agreement, backed by British billionaire Richard Branson, makes the company "the largest investor in HyperLoop," DP World Chairman Sultan Ahmed bin Sulayem said.
Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, attended the ceremony.
The two companies agreed to rename Hyperlink to the Dubai World Ports Cargo Speed.
"We will be able to deliver any goods within 14 hours (f) to Saudi Arabia within 45 minutes to one hour," Saleem said.
"The interesting thing about this project is that the Hyperlop is transporting goods and passengers like airplanes," he said.
DP World operates 78 marine and inland terminals in 40 countries and has the capacity to handle 80 containers of cargo annually.
British billionaire Branson, who was appointed as president of the new company, said the project would "reduce the number of people in cars and a large part of the world would arrive."
The Virgin Hyberloop Wan announced in February plans for a high-speed rail link linking India's financial capital Mumbai with Bona, 142 kilometers away.
For his part, Chief Executive Officer of Virgin Hyperlover and Rob Lloyd, said that a pilot route of 10 to 15 kilometers will be prepared before the entire route is processed.
According to Lloyd, the project is currently concentrated in India and the Middle East, but there is potential for its application in Canada and the United States.
"By the end of the year, I think we can already have three projects funded and subsidized by the government, and two of them could start building in 2019 and one in 2020," Lloyd told AFP.
"We will have an international group to endorse this technology for regulatory and regulatory approvals for 2022," he said.
Lloyd said the first phase would cost between $ 300 million and $ 500 million each, while the full production system, which would transport millions of travelers annually, would require investments of $ 3 billion to $ 15 billion. According to Lloyd, the first high-speed rail network will be ready for commercial use by 2025.

Share this post