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Economic Cities Authority, Virgin Hyperloop One Co-sign Cooperation Agreement

Jeddah, The Economic Cities Authority and US Virgin Hyperloop One co-signed a cooperation agreement to conduct a feasibility study on the possibility of King Abdullah Economic City hosting a world-class excellence center, to include a high speed transport Hyperloop extensive test system, a research and development center and a workshop for the production of Hyperloop vehicles.

The announcement of the agreement came, during a visit by a delegation of the authority, headed by its Secretary-General Muhannad bin Abdulmohsen Hilal, on Tuesday, to the innovation building of Virgin Hyperloop One, in Los Angeles

A feasibility study will examine joint development opportunities for specific technologies with respect to commercially viable Virgin Hyperloop One transport systems, as well as the development of Saudi expertise, in this field. It will also help establish a supply chain for the Virgin Hyperloop One system and speed up the establishment of innovation complexes in the Kingdom.

The Center of Excellence for King Abdullah Economic City is expected to create 6,000 jobs, in advanced technology domain.

Source: Saudi Press Agency

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