Virgin Hyperloop One’s planned project and R&D center in Saudi Arabia has the potential to add $4 billion to Saudi GDP and create 124,000 high tech jobs in the kingdom by 2030, according to a new study.
Earlier this year, VHO and the Saudi Economic City Authority agreed to study the possibility of constructing of the world’s longest test and certification track, as well as an R&D centre and a hyperloop manufacturing facility.
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“The study highlights that hyperloop is more than a high-speed connectivity for passengers and cargo,” said Sultan Ahmed bin Sulayem, DP World group chairman and chairman of VHO.
“The findings have shown a positive alignment between the project and Saudi Arabia’s ambitious national economic and social development agenda. With this in mind, we are delighted to highlight this vision at the Future Investment Initiative and continue our talks with a multitude of stakeholders,” he added.
Jay Walder, VHO’s CEO, said that “this strategic partnership in Saudi Arabia is a result of a shared ambition to harness the power of technology to drive the next leap forward in transportation”.
“It’s a market that has shown a readiness to embrace transformative innovation to achieve the goal of sustainable, energy efficient travel that will have a huge impact on the economy and wider society,” he added.
“This study sets the framework for the advancement of Virgin Hyperloop One’s system, and the creation of a new and unique ecosystem; creating jobs, supporting development and connecting people across the Kingdom.”
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