Hyperloop chairman says that it can recoup the investment in eight to 15 years
Chairman of Hyperloop Transportation, Bibop Gresta has revealed that the world’s first commercial hyperloop system, which is set to open in Abu Dhabi in 2020, will cost between $20 million to $40 million per km, in an exclusive interview with Emirates News Agency, WAM.
Gresta said that Abu Dhabi’s Hyperloop capsule has left the assembly facility in Spain to Toulouse, France where it will be tested and optimised, WAM reported. Gresta also said that the first-of-its-kind project can recoup the investment in eight to 15 years.
Phase one of the project involves constructing 10 km out of the 150 km system between Abu Dhabi and Dubai, which is set to be ready by next year. A Memorandum of Understanding (MoU) was signed with Abu Dhabi’s Aldar Properties in April 2018, which would allow for the creation of a new Hyperloop TT centre including a full scale commercial Hyperloop system, an Hyperloop R&D Advanced Mobility Centre, a Demonstration & Visitor Centre and an Innovation Hub.
The site of the proposed HTT is within Aldar’s Seih Al Sderieh landbank located on the border of the emirates of Dubai and Abu Dhabi, and close to the Expo 2020 site.
“It was a far-fetched dream, but we are all excited now that it’s a dream coming true in the UAE in 2020,” Gresta stated to WAM. “Basically, the Abu Dhabi Hyperloop system is right now past the feasibility study. We have already completed the study after we partnered with Aldar Properties last year. It will be the first commercial Hyperloop line in the world.”
Gresta also mentioned that once the capsule reaches Toulouse in France, it will be put in a tube and tested at the prototype track. “The capsule will be assembled and optimised in Toulouse, prior to use in the Emirates with the goal of eventually connecting Abu Dhabi to Al Ain and Dubai at unprecedented speeds, safely, efficiently, and sustainably,” he added.
WAM reported that the HTT uses electromagnetic levitation engineering to carry pods at 1123 km/h reducing the travel time from hours to minutes.
“Hyperloop can quickly become profitable. It presents the ability to build a mass transit system that would not require government subsidies,” Gresta concluded.