The Maharashtra government on Tuesday accorded the infrastructure status to the Mumbai-Pune ultra-fast hyperloop transport project that seeks to reduce the travel time between the two cities to just 23 minutes.
The state Cabinet approved a proposal to give infrastructure status to the project at a meeting here.
The Cabinet also approved formation of a consortium of DP World FZE and Hyperloop Technologies as proponentsof the original project, according to a statement from the Chief Minister's Office.
Hyperloop is a ultramodern, superfast transport project which is being implemented to link Mumbai and Pune, which are located around 200km apart.
It will run from BKCin Mumbai to Wakadin Pune, covering a distance of 117.5 km.
The hyperloop train will run at a speed of 496 km per hour and cover the distance between the two cities in just 23 minutes, the statement said.
At present, the travel time taken by trains between the two cities is three-and-a-half to four hours.
The FDIin the entire project, which will take seven years for completion, is to the tune of Rs 70,000 crore, the statement said.
In the first phase, the project will be run on a pilot basis for 11.8km in the Pune Metropolitan region at a cost of Rs 5,000 crore, it added.
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