Hyperloop Transportation Technologies (HTT), a US company working on ultra-fast rail system, has submitted a formal proposal to India's Ministry of Road Transport and Highways for setting up ultra-fast transport systems in Indian cities. HTT will start feasibility study once its application is cleared by the Indian government.
In theory, the Hyperloop network is two and a half times cheaper than high speed rail networks. India has signed a deal with Japan to build USD 15 billion worth high speed rail network between Mumbai and Ahmedabad. India is also looking for same with China to lay high speed rail network in other parts of India.
Hyperloop is considered a futuristic passenger and freight transportation system with very high speeds.
Federal Indian Minister Nitin Gadkari had invited HTT to India during his US visit in September. He had promised to allocate a big strip of land between Mumbai and Pune. HTT is in talks with almost two dozen countries including Chile, Spain and France.
