The Hyperloop project proposes to complete the journey from Pune to Mumbai in 25 minutes. The proposed project will line Pune from Wakad to BKC in Mumbai.
The project is a joint venture between the Maharashtra government and Virgin Hyperloop, with the PMRDA as the lead agency dealing with the project.To begin with, a demo and test track of around 15 km will be set up by Virgin Hyperloop One in Pune and this will be from Kiwale to Urse and this will run in parallel to the Pune-Mumbai Expressway, Gitte said. US-based Virgin Hyperloop company would be making initial investments of `300 crore in it, Gitte said.
The state government’s Urban Development Department on November 2 issued a government resolution which has accorded the project the status of a public infrastructure project. The state government has also given the go-ahead to award the work on the project using the Swiss Challenge Method, which will give private companies that work on innovative technologies an opportunity to get involved and bring in their expertise to the table.
The PMRDA will make a public announcement inviting other players to come forward and do a similar project. If the player can give more than 10% betterment, the new player will get the contract. If not, the original proponent will retain the contract.
Virgin Hyperloop One had earlier indicated its willingness to invest around $ 450 million in India to turn its hyperloop vision into a reality.
During he visit of Maharashtra CM, Devendra Fadnavis, with representatives from the PMRDA. They had visited the Virgin Hyperloop One full-scale hyperloop test site in the Nevada Desert in North Las Vegas. The team witnessed a live demonstration of the 500 meter test-track at their full-scale facility. This was after the framework agreement was signed between the state government and the company in February ’18 to build the first hyperloop in India.