The much talked about Mumbai-Pune Hyperloop project received a push on Tuesday with the Cabinet approving to appoint a consortium of DP World and Hyperloop Technologies as its Original Project Proponent (OPP).
It is being claimed that once the hyperloop is ready, the 150-km journey between Mumbai and Pune will be cut down to just 30 minutes, turning the region into one megacity.
“The consortium will have to produce a project report. This will be open to debate and challenge by rivals. Finally, the best proposal will be awarded the rights to build and operate the Mumbai-Pune hyperloop,” said an official.
In the cabinet meeting, it was also decided to grant the project a ‘public infrastructure’ status, which will enable it an easier access to funds and concessions.
The project will be implemented in two phases — first a test track on an 11.4km corridor from Gahunje to Ozarde, followed by the final, 117.5km track. Any bidder can give suggestions and objections. The project will improve connectivity for the 26 million residents of both cities, and expect 150 million people to use the service annually.
If all goes well India could be the first country in the world to officially commission a hyperloop. The project involves a direct foreign investment (FDI) of Rs 70,000 crore making it the first project in the country having such a huge FDI.
According to officials, the Pune Metropolitan Regional Development Authority (PMRDA) is all set to float tenders for the construction by mid-August.
The State government also allocated a 15-km stretch of land from Kiwale to Urse in Pune to build the test track. The track, and the rest of the hyperloop, will run along the Mumbai-Pune Expressway. The government currently owns most of the land along the stretch, which will reduce land acquisition problems that usually delay most infrastructure projects.
