By Staff writer
Cost of the 150km UAE project is equivalent to $52m per mile, according to US firm behind it
The 150km Abu Dhabi-Dubai Hyperloop route is expected to cost $4.8 billion (AED17.62bn), according to the US-based company that is developing it.
On Wednesday Hyperloop One unveiled the first look of a fully-operational transit model ahead of its official launch on November 7 in Dubai.
The first Hyperloop is planned open in Dubai, with the high-speed transportation reducing traversing time between the two emirates expected to take just 15 minutes, Forbes reported based on a company presentation it had seen.
“That grand opening would likely come in Dubai, the home of the leader of its last announced financing, port-terminal operator DP World Group,” the presentation said.
The presentation also revealed that the projected cost of the Abu Dhabi to Dubai is $4.8 billion – equivalent to $52 million per mile.
In August this year, Arabian Business reported Hyperloop One chief executive officer Rob Lloyd as saying the project being considered for Jebel Ali port will cost “100s of millions of dollars.”
He said the project involves creating a transportation link of 30 kilometres from Jebel Ali Port to a new inland container depot close to the Al Maktoum International Airport, using tubes above and below ground.
In October this year, Team Mobius of France won the design completion for a prototype hyperloop train that can reduce travel time between Dubai and Fujairah to 10 minutes. It has not yet known on whether the route will become a reality.
The Hyperloop One presentation suggests these loops will be highly lucrative once operational with the Dubai loop yielding $523 million (AED1.92 billion) in profit off combined passenger and freight revenues of $1.3 billion (AED4.77 billion), a 37.5 percent profit margin.
Dubai has already commenced work on the Route 2020 project, an extension of the Metro Red Line from Nakheel Harbour and Tower Station to the Expo 2020 site, which is set to cost $2.89 billion (AED10.6 billion).For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.