DP World hails passing of legislation to deploy hyperloop systems

16 July 2020 (Last Updated July 16th, 2020 15:34)

Port operator DP World has appreciated the legislation that was passed by the US House of Representatives that requests a regulatory framework to safely deploy hyperloop systems.

DP World hails passing of legislation to deploy hyperloop systems
The legislation passed by the US House of Representatives was lauded by DP World and Virgin Hyperloop. Credit: DP World.

Port operator DP World has appreciated the legislation that was passed by the US House of Representatives that requests a regulatory framework to safely deploy hyperloop systems.

This legislation is said to be the first of its kind from the US Government.

It also directs the Non-Traditional and Emerging Transportation Technology (NETT) Council to provide guidance regarding the regulatory framework for the hyperloop system in six months.

DP World created a new venture, known as DP World Cargospeed, in partnership with Virgin Hyperloop.

The venture is expected to result in the quick, sustainable and efficient delivery of cargo worldwide.

Virgin Hyperloop has started talks with the governments of the UAE, Saudi Arabia and India.

It recently carried out the first national-level study in the world, along with the Saudi Ministry of Transport.

DP World is the largest investor in Virgin Hyperloop, which raised investments exceeding $400m.

DP World CEO and group chairman and VH chairman Sultan Ahmed Bin Sulayem said: “We are excited to see this revolutionary vision becoming part of the future of transportation, as much as we are confident that Virgin Hyperloop will take a leap forward and deliver on a 21st-century transportation solution.

“The decision is a huge vote of confidence that we are all on the right side of history. The move, which brings hyperloop systems one major step closer to reality, validates our decision to take this technology seriously and support this innovation.”

Virgin Hyperloop One CEO Jay Walder and: “DP World has been a key enabler of developing this technology for deployment, and the inclusion of hyperloop transportation in this legislation is a great moment in history for us and for DP World.”

Last year, Virgin Hyperloop One announced plans to build a long-range hyperloop test track in Saudi Arabia.