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

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.”


Egypt signs lucrative gas deals

Updated 22 min 55 sec ago

Egypt signs lucrative gas deals

  • Five agreements were signed during the last fiscal year

CAIRO: The Egyptian Natural Gas Holding Company (EGAS) has signed eight research and exploration agreements with investments of $934 million.

Five agreements were signed during the last fiscal year and three others during the first quarter of this fiscal year.

Minister of Petroleum and Mineral Resources Tarek El-Molla said that the integrated strategy adopted by the ministry to develop Egypt’s natural gas resources has succeeded in recording the highest rates of natural gas production in the history of the country, achieving gas self-sufficiency and resuming exports.

He said that natural gas plays a significant role in achieving economic returns, in addition to attracting new international companies to work in the field of research and exploration in Egypt.

El-Molla said a project to transform Egypt into a regional center for the handling and trade of gas and oil is being planned.

The minister stressed the importance of implementing the national project for providing natural gas to all Egyptian governorates and citizens.

Magdy Galal, EGAS head, reviewed the development of natural gas production rates during the past five years and the efforts to confront the natural decrease of wells.

He said that during the recent fiscal year, the company signed a total of five agreements. On top of the $934 million in investments, there were also signing grants worth $51 million.

He added that the company has 37 ongoing agreements, a result of a Ministry of Petroleum and Mineral Resources strategy, which attracted new investments and the entry of Exxon Mobil and Chevron in the field of research and exploration in Egypt, and an increase in investments from companies such as Shell and Total.

He said the company is finalizing six other agreements with investments of $731 million and $14 million in signing grants.