The Economic Cities Authority (ECA) has signed a collaboration agreement with Virgin Hyperloop One (VHO) to conduct a feasibility study to build a world-class hyperloop center of excellence at King Abdullah Economic City (KAEC).
The center is to include an extended test and certification hyperloop track, a research and development center and a hyperloop manufacturing facility.
The agreement is in line with ECA’s vision to make Saudi Arabia a globally attractive hub for high-value, long-term investments.
The announcement took place during a visit to VHO’s Innovation Campus in Los Angeles by a senior ECA delegation, led by Secretary-General Muhannad bin Abdul Mohsin Hilal
The study will examine opportunities for the co-development of specific technologies for hyperloop transportation systems that can be commercialized and scaled, together with the development of local expertise in Saudi Arabia. The study will also assess the potential for establishing localized hyperloop supply chains and the acceleration of innovation clusters across the Kingdom. Additionally, the hyperloop center of excellence at KAEC is expected to create 6,000 high-tech localized jobs.
Hilal said: “At ECA, we are always on the lookout for strategic partnerships and initiatives to enable our economic cities to contribute to the ambitious goals of Vision 2030, and our agreement with VHO to explore the possibility of developing its new technology at KAEC represents a major step forward in our mission. If materialized, the center of excellence will catalyze the development of a domestic hyperloop-enabled transportation sector, which in turn, will accelerate urban development and economic growth, creating job opportunities for Saudi youth and increasing local content.”
Jay Walder, CEO of VHO, said: “With Vision 2030, the Kingdom has demonstrated bold leadership to advance game-changing solutions. A hyperloop system could help enable Saudi Arabia to become a global transportation powerhouse, nurture the nation’s innovation and entrepreneurial culture, and grow an innovative knowledge workforce.”
“I look forward to this collaboration with our visionary partners in the Kingdom of Saudi Arabia to turn this technology into a mass transportation solution,” he added.
Sultan Masoom, ECA’s director-general of investment development and attraction, said: “Closely aligned with Saudi Arabia’s strategy to transform itself into a global economic powerhouse, ECA is keen on attracting quality foreign direct investment to stimulate business at the economic cities.”
