(MENAFNEditorial) HyperloopTT will work with the Ministry of Infrastructure of Ukraine on planning Europe's first commercial system while creating the legal and regulatory framework for the nation
Dubai, UAE, June 19, 2018: Hyperloop Transportation Technologies announced the signing of an agreement with the Infrastructure Ministry of Ukraine to begin the process for a planned commercial Hyperloop system. The agreement was signed in the Ukraine capital of Kiev in line with the nation's National Transport Strategy of Ukraine 2030 initiative.
In February of 2018, Ukraine's Transportation Minister, Volodymyr Omelyan, announced the nation would begin setting the stage for Hyperloop technology alongside Ukraine's National Academy of Sciences, state defense conglomerate Ukroboronprom, aerospace manufacturer Yuzhmash and several other industrial and scientific institutions.
HyperloopTT will work directly with Ukraine's Ministry of Transportation to begin planning the construction of the first commercial Hyperloop system which will be built out in phases. The first phase will consist of a 10 km track that will be used to create the required legal framework to certify the system before being extended out into a broader Hyperloop network. The project is planned to be financed as a public private partnership after the completion of the initial study.
'We have set a course to bring Ukraine's infrastructure into the 21st century, said Minister of Infrastructure of Ukraine Volodymyr Omelyan. 'Hyperloop is a key component to our goals of creating a smart, and sustainable transportation infrastructure. We warmly welcome HyperloopTT to join us in this endeavor and are glad to have an agreement signed.
'This year we started the commercialization of our technology with a focus on creating regulations which are the biggest hurdle remaining to bring this new mode of transportation to the world, said HyperloopTT CEO Dirk Ahlborn. 'These first commercial systems will allow us to create the necessary legal framework which can serve as a basis for other countries around the world.
'We announced our first commercial agreement in Abu Dhabi in April and we are pleased to include Ukraine to our growing list of sovereign partners, said HyperloopTT Chairman Bibop Gresta. 'Ukraine is at the crossroads of the new Silk Road transportation corridor and we can expect Hyperloop to play a major role in connecting Europe and Asia.
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