Agreement for commercial Hyperloop system in Ukraine signed
Hyperloop Transportation Technologies and Ukraine’s Ministry of Infrastructure Volodymyr Omelyan have signed an agreement to develop Europe’s first commercial Hyperloop system. The agreement was signed last week in the Ukrainian capital of Kiev.
Transportation and technology company HyperloopTT will work directly with Ukraine’s Ministry of Infrastructure to begin planning the construction of the first commercial Hyperloop system. The timeframe was not specified. The project is planned to be financed as a public private partnership, after the completion of the initial study.
The Hyperloop system will be build in phases. The first phase will consist of a ten kilometre track that will be used to create the required legal framework to certify the system, before being extended out into a broader Hyperloop network.
“This year we started the commercialisation of our technology with a focus on creating regulations, which are the biggest hurdles remaining to bring this new mode of transportation to the world”, said HyperloopTT CEO Dirk Ahlborn. “These first commercial systems will allow us to create the necessary legal framework which can serve as a basis for other countries around the world.”
HyperloopTT Chairman Bibop Gresta commented: “Ukraine is at the crossroads of the New Silk Road transportation corridor and we can expect Hyperloop to play a major role in connecting Europe and Asia.”