UAE signs partnership with Hyperloop firm
Agreement supports strategic partnerships according to the Abu Dhabi Vision 2030
The Office of Sheikh Falah Bin Zayed Al Nahyan has signed a strategic partnership agreement with Hyperloop Transportation Technologies (HTT), as part of its support for the project to link the cities of Abu Dhabi and Al Ain via Hyperloop technology.
The partnership will allow the company to accelerate the pace of its project, which follows the study agreement signed between HTT and the Abu Dhabi Department of Municipal Affairs and Transportation (DMAT) in November last year.
The agreement continues the efforts to support strategic projects in the emirate, according to the Abu Dhabi Vision 2030.
Commenting on the partnership, Moustafa Samir, the advisor at the Office of Sheikh Falah, said: “The HTT project to link the cities of Abu Dhabi and Al Ain promises to support and develop the emirate’s infrastructure, and contribute to driving economic and social activity in Abu Dhabi, and in Al Ain in particular.”
The sponsorship from the office of Sheikh Falah is the latest in a string of significant contributions that have allowed HTT to surpass $100 million in total investments. To date, the company has received a total of $31.8 million in cash, from different stakeholders around the world, as well as $26 million worth of man-hours and services.
Bibop Gresta, the chairman at HTT, said: “Sheikh Falah’s involvement with HTT is both crucial and highly valued by every team member, as it will allow us to align ourselves with Abu Dhabi’s vision and accelerate the pace of our exciting project to connect Abu Dhabi with Al Ain via Hyperloop.”
