Sultan Bin Sulayem appointed chairman of Virgin Hyperloop One, DP World becomes largest investor

Sultan bin Sulayem replaces Virgin founder Sir Richard Branson who stood down last month. With DP World becoming the largest investot in Virgin Hyperloop One it recognises that the value that is seen in the Hyperloop for not only moving passengers but also time sensitive cargo.

Virgin Hyperloop One also a appointed a new ceo Jay Walder who has previously served as as chairman and ceo of the Metropolitan Transportation Authority in New York, ceo of the MTR Corporation in Hong Kong, and managing director at Transport for London.

An international consortium international consortium comprising DP World and Virgin Hyperloop One has started implemention first hyperloop system that would run from Pune to Mumbai in India. If the Indian government awards the concession for the project the consortium plans to start work on construction an 11 km test loop next year. The hyperloop systems connecting Mumbai to Pune would reduce travel time from four hours to 25 minutes.

Sultan Bin Sulayem said: “As we enter uncharted territory in implementing an entirely new kind of mass transportation system, we needed a leader with a deep understanding of public transportation, experience in infrastructure financing, a track record of project delivery, and success working with government and private sector partners.”

Hyperloop technology has yet to be successfully commercialised. There are a number test sites around the world racing to perfect the technology, and various agreements have been signed for projects to develop passenger and cargo systems, which are planned to come into service by 202.

Last month the DP World Cargospeed hyperloop transportation solution was on display at Seatrade Maritime Middle East in Dubai.

Read more: DP World Cargospeed hyperloop on display at Seatrade Maritime Middle East