AP Govt signs MoU with US Company

Amaravati, Sept 7: The Andhra Pradesh Economic Development Board (AP-EDB) and the US based Hyperloop Transportation Technologies (HTT) signed the memorandum of understanding (MoU) here on Wednesday.

The MoU is signed to introduce the 'Hyperloop' transportation system in Metro Project of Amaravati. If everything goes well, this will be the first Hyperloop project to be implemented in India.

The concept of HTT is notably backed by business magnate and inventor Elon Musk. But it has not been implemented for practical use anywhere in the world yet.

But an official release on the MoU did not disclose the probable cost of the project. The project will be taken up in the public-private- partnership mode with the funding coming primarily from private investors, the release said.

Hyperloop envisages a 'tube modular transport system' that runs free of friction. It is still in trial stages in different countries.

Following his first interaction with HTT executives during the World Economic Forum in Switzerland in January, Chief Minister N Chandrababu Naidu held another round of talks with them at the Secretariat here recently.