The travel time between Mumbai and Pune is all set to reduce significantly to just 25 minutes, which is possible when the Hyperloop is in place.
The US-based Virgin Hyperloop One has signed a framework agreement with the Pune Metropolitan Region Development Authority (PMRDA) for this purpose.
Virgin Group Founder and Virgin Hyperloop One Chairman Sir Richard Branson announced the agreement in presence of Prime Minister Narendra Modi and Maharashtra Chief Minister Devendra Fadnavis, on Sunday evening.
"I believe Virgin Hyperloop One could have the same impact upon India in the 21st century as trains did in the 20th century. The Pune-Mumbai route is an ideal first corridor as part of a national hyperloop network that could dramatically reduce travel times between India's major cities to as little as two hours," said Branson.
The hyperloop route will link central Pune, Navi Mumbai International Airport, and Mumbai in 25-minutes, connecting 26 million people and creating a thriving, competitive mega-region.
The high-capacity passenger and cargo hyperloop route eventually will support 150 million passenger trips annually, saving more than 90 million hours of travel time, and providing citizens with greater opportunities; social and economic mobility.
The hyperloop system will also have the potential for the rapid movement of palletized freight and light cargo between the Port of Mumbai and Pune, creating a robust backbone for on-demand deliveries, supply chains, and next-generation logistics.
The Pune-Mumbai route could result in Rs 3,50,000 in socio-economic benefits (time savings, emissions and accident reduction, operational cost savings, etc.) over 30 years of operation, according to an initial pre-feasibility study completed by Virgin Hyperloop One.
The 100% electric, efficient hyperloop system will ease severe expressway congestion and could reduce greenhouse gas emissions by up to 1,50,000 tons annually.
"The Pune-Mumbai hyperloop route will be an economic catalyst for the region and create tens of thousands of jobs for India's world-class manufacturing, construction, service, and IT sectors and aligns with Make in India initiatives," said Fadnavis.
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