Amravati, September 6, 2017: Hyperloop Transportation Technologies (HTT) signed a Memorandum of Understanding with the Andhra Pradesh Economic Development Board (APEDB) today.
This Memorandum of Understanding (MoU) will facilitate the development of HTT’s Hyperloop Transportation System in Andhra Pradesh.
The proposed route for the Hyperloop is between the city centres of Vijayawada and Amravati, potentially turning a trip of more than one hour into a 5-minute ride. The project will use a Public Private Partnership (PPP) model with funding primarily from private investors
“We are extremely delighted to have entered into a MoU with the Government of Andhra Pradesh to bring the HTT Hyperloop to India,” said Mr. Bibop Gresta, Chairman & Co-founder, Hyperloop Transportation Technologies. “In partnering with Andhra Pradesh, HTT will work with local stakeholders to build the regulatory standards necessary for safe and efficient operation.”
During Phase 1 of the project, HTT will conduct a six-month feasibility study commencing in October. Working with partners in the public and private sector, HTT will analyze the surrounding cityscapes to create the best route between the two cities while identifying all pertinent stakeholders in the region. After conducting the initial six-month feasibility study, Phase 2 of the project will construct and build HTT’s first Hyperloop in India.
Mr. Krishna Kishore, Chief Executive Officer, Andhra Pradesh Economic Development Board said, "Major cities of the world has seen declines in livability and transportation has been a major contributor due to congestion, air pollution and accessibility and Andhra Pradesh is shaping the way it approaches transportation in the future. By collaborating with Hyperloop, Amravati is embracing a prototype for the mobility of tomorrow" he added.
Aviruk Chakraborty, advisor to the Economic Development Board, says, "Climate change is an inevitable reality, human race has to embrace technology that will stabilize green house. India has ratified the second commitment period of the Kyoto Protocol that commits countries to contain the emission of greenhouse gases, reaffirming its stand on climate action. The step towards implementing the Hyperloop is India’s commitment to Kyoto Protocol. India is entering into a new era in terms of technology and our goal is to put India on the global map by developing and implementing green technologies, the first Hyperloop in Amravati.”
The State of Andhra Pradesh is the seventh largest in India with a population of over 50 million people. Connecting these emerging development regions with ultra-high-speed transportation will establish this region as a leader in technological innovation and sustainable development.
The APEDB along with Government of Andhra Pradesh will assist Hyperloop Transportation Technologies Inc. (HTT) with all regulatory requirements and develop and implement hyperloop in Amravati.