First phase of UAE hyperloop on track for 2020

First phase of UAE hyperloop on track for 2020
File photo showing Journalists and guests looking over tubes following a propulsion open-air test at Hyperloop One in North Las Vegas, Nevada, U.S. in 2016. (Reuters)
Updated 17 January 2019

First phase of UAE hyperloop on track for 2020

First phase of UAE hyperloop on track for 2020

LONDON: Phase one of the world’s first commercial hyperloop system will be ready next year, says the boss of the company building the new transport system in the UAE. 

Bibop Gresta, chairman of Hyperloop Transportation Technologies, said the first 10 km out of a 150 km stretch linking Abu Dhabi to Dubai and Al Ain will be completed in 2020 at a cost of $20 million to $40 million per kilometer.

The total cost of the 150 km system between Abu Dhabi and Dubai — the first of its kind in the world — is estimated to be between $3 billion and $6 billion but Gresta said it would recoup its costs within eight to 15 years.

He revealed the Abu Dhabi hyperloop capsule has already left Spain, where it was built, and is due to start tests in Toulouse, France on a prototype track.

Under an agreement signed last April with Aldar Properties of Abu Dhabi, Hyperloop will operate the rail system and construct a commercial center, research and development center, a visitor center and “innovation hub” on the Seih Al-Sdeirah landbank on the border between Abu Dhabi and Dubai emirates, close to both Al-Maktoum International Airport and the Expo 2020 site.

“It was a far-fetched dream but we are all excited now that it’s a dream coming true in the UAE in 2020,” Gresta told WAM, the official news agency of the UAE. “Basically, the Abu Dhabi Hyperloop system is right now past the feasibility study.”

The hyperloop consists of a pod propelled by electro-magnetic levitation at speeds of up to 1,123 km per hour, potentially reducing the traveling time between the two emirates to mere minutes. 

Gresta insisted the system would become profitable quickly as it is simpler and lighter in design and uses less energy than conventional types of mass transport. 

“It presents the ability to build a mass transit system that would not require government subsidies,” he said. “In regions where road and railway infrastructure is scarce, hyperloop can be a leap over 20th century technology directly into the 21st century. In regions with developed infrastructure, hyperloop can easily integrate and complement current and future road and rail networks.”

There are three hyperloop test tracks in the world — two in the US and one in Europe.

However a transport expert cast doubt on the timescale and warned the hyperloop could be sent into operation too soon.

“It’s the UAE, where they had the first drone police bike, the first drone taxi and every hyper car that exists,” said Stanford Ellis, publisher and editor of the website Transport Monthly. 

“The hyperloop is quite viable as long as it’s done properly, but the UAE might push it along.”


Asia to dominate Davos virtual forum as virus-hit West struggles

Asia to dominate Davos virtual forum as virus-hit West struggles
The 2020 WEF, which took place in its usual Swiss Alpine resort of Davos, saw the global elite just starting to worry about a pandemic that surfaced in China a month earlier. (Shutterstock)
Updated 23 January 2021

Asia to dominate Davos virtual forum as virus-hit West struggles

Asia to dominate Davos virtual forum as virus-hit West struggles
  • Spotlight will be on Chinese President Xi Jinping, who will give a speech on Monday — the opening day of the event

PARIS: Emerging stronger from the COVID-19 pandemic, Asia is set to dominate this year’s virtual World Economic Forum as a virus-battered West struggles and a new US president faces particularly daunting challenges.

The 2020 WEF, which took place in its usual Swiss Alpine resort of Davos, saw the global elite just starting to worry about a pandemic that surfaced in China a month earlier.
While the coronavirus leaves a mounting death toll and upends economies, depriving millions of people of work, China and Asian countries in 2021 are making a strong comeback from the virus that hit them first.
In virtual format because of the pandemic, next week’s event is headlined: “A Crucial Year to Rebuild Trust.”
The spotlight will be on Chinese President Xi Jinping, who will give a speech on Monday, the opening day of the event that will last through next Friday.
The big names from Europe will be German Chancellor Angela Merkel, French President Emmanuel Macron and European Commission President Ursula von der Leyen, who heads the EU executive.
US President Joe Biden will not appear at the virtual Davos, which has never been a fixture on the White House calendar — even if the new administration has pledged to revive a US multilateral foreign policy after four years of Donald Trump’s America First approach.
Trump had been an exception as he stopped in Davos twice, with the real estate billionaire enjoying mixing with the global business elite.
Before him, Bill Clinton was the only American president who had traveled to Davos, and that was just once.
Showing up from Asia are China’s and South Korea’s presidents as well as the prime ministers of India and Japan.
Following the first virtual session, Davos will move in May to Singapore, far from the luxury Swiss ski resort where it has taken place since it was launched in 1971, the brainchild of German professor Klaus Schwab.
The stated reason for the changes is health safety.

FASTFACT

The big names from Europe will be German Chancellor Angela Merkel, French President Emmanuel Macron and European Commission President Ursula von der Leyen, who heads the EU executive.

But a virtual forum is not particularly attractive for the world’s well-heeled movers and shakers, who value huddles behind closed doors in fancy hotels over meetings in formal settings.
French insurance-credit group Euler Hermes said in a study this month that the “world’s economic center of gravity” (WECG) has been moving toward Asia since 2002.
“The COVID-19 crisis could accelerate the shifting global balance toward Asia,” it added.
“By 2030, we forecast the WECG, could be located around the confluence of China, India and Pakistan,” the study projected.
The speech by Xi, who addressed Davos back in 2017, seems almost to set the clock back, as if the business world seeks to erase the Trump era.
Four years ago, he presented himself as the champion of free trade, much to the joy of Davos participants who feared the newly elected Trump’s protectionist moves.
Biden is nevertheless sending John Kerry, the special climate envoy who will be welcomed after the new Democratic president has brought Washington back into the Paris climate accord.
The agenda includes workshops titled: “Stakeholder Capitalism: Building the Future” as well as “Advancing a New Social Contract” and “Resetting Consumption for a Sustainable Future.”
In a column published in mid-January, Schwab said 2021 could be a positive and historic year, 75 years after the original “Year Zero” following the devastation of World War II.
“We once again have a chance to rebuild,” he said, calling for rethinking capitalism in the light of a pandemic that has worsened inequality.
He said “COVID-19 has delivered the final blow” to the post-war model where free markets and limited government produced prosperity and progress that now is “no longer sustainable, environmentally or socially.”