Ton­gren, HTT to Cre­ate China’s First Hyper­loop Sys­tem

Asia Outlook - - News -

Hyper­loop Trans­porta­tion Tech­nolo­gies (HTT) has signed a deal with China’s state owned Ton­gren Trans­porta­tion Tourism In­vest­ment Group to set up a joint ven­ture that will con­struct the coun­try’s first hyper­loop sys­tem.

Lo­cated in the south­ern Guizhou prov­ince, home to more than 35 mil­lion peo­ple, the agree­ment has out­lined that the track will ini­tially stretch a to­tal 10 kilo­me­tres with room for fu­ture ex­ten­sions.

“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.

HTT will be re­spon­si­ble for pro­vid­ing es­sen­tial equip­ment and tech­no­log­i­cal and en­gi­neer­ing ex­per­tise on the project, whilst Ton­gren will be re­quire for pro­vid­ing cer­ti­fi­ca­tion, reg­u­la­tory and con­struc­tion ser­vices for the sys­tem.

“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,” said Bi­bop Gresta, Chair­man of HTT.

The agree­ment will en­hance China's po­si­tion as a global leader in ad­vanced tech­nol­ogy in­fra­struc­ture and so­lu­tions.

Fur­ther, in the past five years, Guizhou has re­ceived trans­porta­tion in­vest­ment of more than $100 bil­lion, lead­ing to the cre­ation of 3,542 miles of new roads and 69 new high­way projects.

The deal marks HTT's third com­mer­cial agree­ment fol­low­ing an­nounce­ments in both Ukraine and Abu Dhabi ear­lier this year.

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