Saudi Minister of Commerce and Media Dr Majed Al-Qasabi presents the trade licence to VHO’s Tim Wilkinson.
Trade licence issued to Virgin Hyperloop One
01 April 2020
Saudi Arabia’s newly established Ministry of Investment (formerly Sagia) has awarded a trade licence to Virgin Hyperloop One (VHO), thus marking a significant milestone for the California-based developer in its pursuit to commercialise the technology. The category leader in hyperloop development, VHO received the licence at the US-Saudi Arabia Business Forum held in Washington DC.
This comes following a recent announcement by the Ministry of Transport and the Public Transport Authority in Saudi Arabia to conduct the world’s first hyperloop study on a national level.
Under the agreement, VHO will examine viable routes, expected demand, anticipated costs and explore socio-economic impacts. In addition, hyperloop is expected to create jobs and add to the local GDP and furthers the exchange of specialised knowledge, while creating the infrastructure for a connected Saudi Arabia.
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