RIYADH: US-based Virgin Hyperloop One (VHO) recently signed a memorandum of understanding with Saudi Arabia’s King Abdullah University of Science and Technology (KAUST) to in a project to develop the Kingdom’s transport sector.
The globally-leading hyperloop company agreed with the university to develop the country’s transportation infrastructure by “fostering the exchange of scientific and technological knowledge,” according to a statement.
The California-based company and the Kingdom's leading private research institution signed the partnership at the Future Investment Initiative (FII) in Riyadh earlier this month.
— Saudi Embassy (@SaudiEmbassyUSA) November 12, 2019
The announcement came after the leading developer of hyperloop technology and King Abdullah Economic City (KAEC) published the findings of a feasibility study on the establishment of a centre of excellence at KAEC.
The study included the world's first full-speed testing track and a manufacturing facility from which Hyperloop parts would be exported to another market.