Dubai PR Network, Online Press Release from Dubai and Middle East
 
Technology, Computers & IT(Technology)
Filter PR by
  
Hyperloop Transportation Technologies to Build China's First Hyperloop System
 
Hyperloop Transportation Technologies to Build China's First Hyperloop System

HyperloopTT to open Chinese entity and begin work on China’s first Hyperloop starting with an initial 10 km commercial agreement at Tongren in Guizhou Province.

Abu Dhabi, United Arab Emirates, July 19, 2018:   Hyperloop Transportation Technologies announced the signing of an agreement in the People’s Republic of China. The agreement was signed by both HyperloopTT and Tongren Transportation & Tourism Investment Group of the People's Republic of China. This is the first hyperloop agreement with China and marks the twelfth agreement for HyperloopTT and the third commercial agreement for HyperloopTT following announcements in Abu Dhabi and Ukraine earlier in 2018.

HyperloopTT will be responsible for providing technology, engineering expertise, and essential equipment. Tongren will be responsible for certification, regulatory framework, and construction of the system. HyperloopTT will work in partnership with the government of Tongren in defining the route for the system. Financing will be done through a public private partnership with 50% of the funds coming directly from Tongren. 

“We envision that Hyperloop will play into a bigger role of the Silk Road Economic Belt, connecting the region to the rest of the world,” said Dirk Ahlborn, CEO of Hyperloop Transportation Technologies.  “China spends over $300 billion annually on infrastructure to address their rapidly growing urban populations. Having worked alongside our government partners, Hyperloop has proven a viable solution for this immediate problem. Additionally, the unique topography of Tongren will allow us to refine our various construction methods with our partners.” 

“Tongren has always been focused on sustainable development. The signing for Hyperloop project is a major step to open up the inland development, an important achievement of the Tongren Great Investment Action Year, and an important project to enlarge and strengthen the local economy,” said Chen Shaorong Mayor of Tongren. “After the completion of the project, it will greatly accelerate the research and development of China's hyperloop system, rapidly enhance the development of high-tech industry and equipment manufacturing industry in Guizhou Province, effectively improve the popularity of Tongren city and the development of tourism industry, and laying solid foundation for Tongren “one district and five places” development.”

“China leads the world in the amount of high speed rail constructed by far, and now they are looking for a more efficient high speed solution in hyperloop,” said Bibop Gresta, Chairman of HyperloopTT. “We have spent the past few years finding the right partners to work with in China and now with a strong base network of relationships in place, we are ready to begin work to create the system along with the proper legal framework for the nation.”


Posted by : Dubai PR Network Editorial Team
Viewed 12438 times
PR Category : Technology
Posted on : Thursday, July 19, 2018  12:36:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Huawei CBG Continues to Drive the Global Innovation Agenda
Next Story : Sophos Intercept X for Server Blocks Cyber Attackers from Hi...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Flormar's skincare range [10895-Views]
Childrenswear That Speaks With a Conscience [8692-Views]
Versace – Spring/Summer 2019 Collection [8510-Views]
Dubai Jewellers Come Together to Celebrate UAE Mothers [7967-Views]
Put your best skin forward for Spring/Summer 19' with Kocostar's Camouflage range [6130-Views]
Bentley Centenary Watch Celebrates a Proud Partnership [6027-Views]
The Amphis Ritual [5966-Views]
UL and Saudi Telecom Company announce plans to establish a Center of Excellence in Saudi A... [5917-Views]
Al-Futtaim Toyota and UAE Government Authorities confiscate 453,456 counterfeit car parts ... [5612-Views]
Now United to Perform at World Games' Opening Ceremony Pre-Show [5606-Views]
GROHE Shapes the Future of Water with a record number of innovations at ISH 2019 [5460-Views]
Pomsies launch six new Fabulous Friends! [5319-Views]
Al-Futtaim Honda launches the all-new Honda HR-V [5264-Views]
Time to Honour Our Moms with the Best from HONOR: Mother's Day Gift Guide [4904-Views]
Salvatore Ferragamo Timepieces - Spring/Summer 2019 Collection [4788-Views]
Malabar Gold & Diamonds awarded by ‘The Health Education and Promotion Department, Ministr... [4673-Views]
The UAE hosts the World [4648-Views]
Tonda 1950 Stone-set range [4630-Views]
New in this month at Home and Soul Dubai [4490-Views]
The Perfect Gift for Mother's Day [4209-Views]
Salvatore Ferragamo Timepieces – Spring/Summer 2019 Collection [4087-Views]
Region's Young Engineers Shine Light on Intelligent Energy Solutions at "Future Gener... [4087-Views]
The Balmain Haute Elegance Oval mirrors the brand's soul [3989-Views]
Go on, catch the summer moments [3837-Views]
Dubai Customs organizes women's “Tolerance Parade” in conjunction with International Women... [3794-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories