Elon Musk-backed Hyperloop Transportation Technologies (HTT) on Tuesday said the company is ready to build a Hyperloop between Mumbai and Pune, but Union Transport Minister Nitin Gadkari will take the final call on going ahead with the project.
Hyperloop is a mode of public transport that involves thrusting a pod-like vehicle through a tube at high speeds. A Hyperloop runs faster than an aircraft and can achieve speeds of 1,120 kmph.
Gadkari has a proposal on his table to build the Hyperloop and he has to take a decision. If he wants to go ahead with it, we are ready, and we will carry out a feasibility study to begin with to lay a line between Bombay (Mumbai) and PuneBibop G Gresta, co-founder, Hyperloop Transportation Technologies
Asked about the regulatory challenges to build a Hyperloop in India, Gresta said Gadkari, during the meeting, had expressed the Indian government's willingness to help the company in this regard.
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I had asked Gadkari to help us with regulatory norms. He (Gadkari) said we are willing to do that.Bibop G Gresta
Asked whether the company was looking for partners in India, Gresta said two local companies are working with Hyperloop.
We already have two local companies in my team and we have 25 people working from India. They have several skills like programming and mechanical engineeringBibop G Gresta
Asked about the size of investment needed to build the Hyperloop, Gresta said right now, the company is not asking for money, but land to get the project going.
The company has several options for raising money. One of them is to build the Hyperloop using the public-private-partnership model. We also have private investors interested in implementing the project
Hyperloops will be built in California, Utah, Illinois, Florida, Indianapolis, Canada, Mexico, Chile, Spain, France, China, Malaysia, India, Indonesia and Australia, among others.
"I think India is a perfect country to implement this project because the roads are not that good. Here, the transportation is not capable of sustaining growth," he said.
He said the company has received investments of over $100 million to build Hyperloops in several countries.
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