INDUSTRY WATCH
THIS STRATEGIC
PARTNERSHIP IN
KSA IS A RESULT OF A
SHARED AMBITION TO
HARNESS THE POWER OF
TECHNOLOGY TO DRIVE
THE NEXT LEAP FORWARD
IN TRANSPORTATION.
V
irgin Hyperloop One (VHO), a
leading hyperloop company,
has announced the results of
a strategic study commissioned to
build the world’s first extended test
and certification hyperloop track in the
Kingdom of Saudi Arabia (KSA).
The study also set out plans for an
R&D centre and manufacturing facility
to support the development of the
groundbreaking hyperloop technology.
In line with Saudi Vision 2030,
the Kingdom’s diversification and
development strategy, the VHO project
is expected to significantly support a
number of the economic and social pillars
of the country’s 2030 Vision, including
the expansion of transportation, the
development of urban infrastructure
and the growth of a technology enabled
modern economy.
Sultan Ahmed bin Sulayem, Group
Chairman and CEO of DP World and
Chairman of VHO, said: “The study
highlights that hyperloop is more than a
high-speed connectivity for passengers
and cargo. The findings have shown a
positive alignment between the project
and KSA’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.”
www.intelligentcio.com
The Virgin Hyperloop One Center of
Excellence (CoE), if approved, could break
ground in King Abdullah Economic City
(KAEC) in 2020 and include an integrated
test track, as well as explore the feasibility
of creating a manufacturing centre and
operating facility that will propel the
Kingdom to the forefront of hyperloop
development worldwide. The report
also illustrated how the CoE will drive
domestic value by adding to the creation
of more than 124,000 high-tech local
jobs, supporting the technology sector by
incorporating advances in robotics and
AI and driving an estimated $4billion
increase in KSA GDP by 2030.
“This strategic partnership in KSA 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,” said Jay Walder, CEO, VHO.
“This study sets the framework for
the advancement of VHO’s system,
and the creation of a new and unique
ecosystem; creating jobs, supporting
development and connecting people
across the Kingdom.”
Ahmed Linjawy, GCEO of King Abdullah
Economic City (KAEC), said: “The KSA
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