Sections

ideals
Business Essentials for Professionals



First Hyperloop For Cargo In India To Be Launched By A Large Port Operator


02/11/2019


First Hyperloop For Cargo In India To Be Launched By A Large Port Operator
The first hyperloop project of one of the largest port operators of the world - DP World, would be launched in India according to the chairman of the company. 
 
An agreement for partnership was signed with Virgin Hyperloop One by DP World, which is owned by the UAE government last year for development of a cargo transporter. And now reports say that the first project of the companies would be done in India – the fastest growing major economy of the world.
 
"The first project will be in India, we signed an agreement and we are looking at how to test the project," company Chairman Sultan Ahmed bin Sulayem said while talking to the the media at the World Government Summit in Dubai.
 
Bin Sulayem said that the company is "eager now today to go on the next step" and added that "we are investing in something we believe is going to add value."
 
"We believe there is a need for it in India," the chairman said further. "One of the big problems in India is transportation, the congestion." There was a potential for bringing in a transformative change in the country with a population of 1.3 billion by the hyperloop's technology because it would be underground and not open to public viewing, according to the chairman.
 
It is anticipated that the hyperloop technology would bring in revolutionary changes to how people and goods are transported and one of the few companies that are fast running in the case to develop the technology is Virgin Hyperloop One.
 
This concept was first developed by the founder of US car maker Tesla – Ekon Musk back in 2013 and is being considered to be the transportation technology for the future as it is expected to be faster than air travel and would costs just a fraction of conventional modes of travel. According to this concept, people and goods are propelled through underground tube systems in pods at speeds of upto 750 mph with the use of magnets.
 
No timeline for the beginning of the project was however offered by bin Sulayem but confirmed that an announcement for the same would be made very soon. "We have a team in India that is working very hard, we're working with our office here and in Los Angeles, but we are not wasting our time. The technology we brought into the company has improved 10 times. Whenever I meet with them I see something new."
 
In terms of cargo tonnage, DP World is ranks as one of the top four largest port operators in the world.
 
(Source:www.cnbc.com)


In the same section
< >

Monday, June 3rd 2019 - 07:28 Meta Leadership Primer: NFC