Earlier this year, Los Angeles-based Hyperloop One and the Summa Group signed an agreement to explore the possibility of building a futuristic high-speed Hyperloop transportation system in Russia that will cost $1.5 billion in Russia.
The innovative project was presented at the Eastern Economic Forum on Friday and has received approval from Russia’s Transport Ministry.
The system being developed by Hyperloop One involves passenger pods being driven by electricity through a low-friction vacuum tunnel, theoretically reaching speeds of up to 750 mph (1,200 km/h).
William Shor, who runs Caspian Venture Capital, suggests that in four years vacuum trains will be able to carry up to 19 million tons of grain across Russia.
The first line, 70 kilometers in length, will reportedly be built at Primorsky Krai, between Port Zarubino and the Chinese border town of Hunchun. At first, the project will be tested on a three kilometer section.
Hyperloop was first proposed in 2013 by US billionaire Elon Musk as an innovative open-sourced concept.
RT.com / AA Flash Point Transportation News 2018.