Richard Branson’s Virgin Hyperloop One is set to be constructed in India, connecting 26mn people.
The British conglomerate will build the Hyperloop train between Pune with Mumbai, linking the new Navi Mumbai International Airport.
The journey is anticipated to be reduced by three hours, taking only 25 minutes to travel almost 100 miles, at speeds of up to 240mph.
A preliminary agreement was signed by Brandon in Mumbai on Monday for a broad hyperloop framework.
Virgin aims for a demonstration track is set to be completed within three years, with construction of the full route to be completed in five to seven years.
“I believe Virgin Hyperloop One could have the same impact upon India in the 21st century as trains in the 20th century,” commented Richard Branson, Founder of Virgin Group.
“The Pune-Mumbai route is an ideal first corridor as part of a national hyperloop network,” he added.
Construction is currently undergoing for the new airport, located 22 miles southeast of Mumbai’s existing airport.
The airport is expected to be partially operational by December 2019 – with one runway serving around 10mn passengers.
When the airport is at full capacity, it is designed to host approximately 60mn passenger per year.
In a recent study, Virgin Hyperloop One stated the new route could result in $55bn worth of socio economic benefits over 30 years.
The transport system uses magnetic levitation in low pressure tubes for high speed transportation.
As it is powered by electricity and aims to effectively reduce car travel, it is believed it could reduce greenhouse gas emissions by 15,000 tonnes per year.
“Globalisation is the reality of our times. To keep pace with globalisation, we need top-quality infrastructure,” stated Narendra Modi, India’s Prime Minister.