Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
No Result
View All Result
Home Latest News

Saudi Arabia Boosts Vision 2030 with Hyperloop

byCT Report
25/07/2019
in Latest News
Share on FacebookShare on Twitter

Virgin Hyperloop One has announced a development partnership with Saudi Arabia’s Economic City Authority (ECA) to conduct a study to build the world’s longest test and certification hyperloop track, as well as a research center and manufacturing facility north of Jeddah.

According to a statement, the announcement took place at Virgin Hyperloop One’s Los Angeles headquarters during a visit from a senior delegation of Saudi Arabia’s ECA, led by Secretary-General Mohanud A. Helal.

You might also like

Peshawar Enforcement raises Rs2.9b from confiscated gold, silver & foreign currency in FY2025-26

19/06/2026

Petrol price cut by Rs74, diesel by Rs67 as PM announces relief package

19/06/2026

The study will focus on King Abdullah Economic City (KAEC), located 100 kilometers north of the Red Sea port of Jeddah.

WATCH: How Hyperloop Can Change the World

It will include a 35-kilometer test and certification track and will create opportunities for the development of specific hyperloop technologies and develop local expertise in Saudi Arabia.

Furthermore, the study will also facilitate the development of localized hyperloop supply chains and the acceleration of innovation clusters across the Kingdom.

Helal said the partnership will accelerate its Vision 2030, a government project designed to energize and diversify its economy.

“Our partnership with Virgin Hyperloop One is a matter of pride for us and all of Saudi Arabia,” Helal claimed.

“As we continue to help deliver the strategic pillars of Vision 2030, technology transfer and high-tech job creation opportunities that this relationship will bring are fundamental to our progress as a nation and our efforts to create opportunities for our bright young people.

“Having hyperloop at King Abdullah Economic City is going to act as a catalyst for a Saudi Silicon Valley effect and galvanize our software development, high technology research, and manufacturing industries.”

Jay Walder, CEO, Virgin Hyperloop One, echoed those views and praised Saudi Arabia’s bold leadership. “With Vision 2030, the Kingdom has demonstrated bold leadership to advance game-changing solutions.

“A hyperloop system could help enable Saudi Arabia to become a global transportation powerhouse, nurture the nation’s innovation and entrepreneurial culture, and grow an innovative knowledge workforce.

“I look forward to this collaboration with our visionary partners in the Kingdom of Saudi Arabia to turn this technology into a mass transportation solution.”

Hyperloop is one of the most exciting infrastructure innovations in the world and has the potential, its supporters say, to revolutionize the global supply chain.

Related Stories

Peshawar Enforcement raises Rs2.9b from confiscated gold, silver & foreign currency in FY2025-26

byCT Report
19/06/2026

PESHAWAR: Collectorate of Customs Enforcement realised Rs2.902 billion during the financial year 2025-26 through the disposal of confiscated gold, silver...

Petrol price cut by Rs74, diesel by Rs67 as PM announces relief package

byCT Report
19/06/2026

ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Friday announced a major reduction in petroleum prices, saying the benefits of improved...

Pakistan, Iran eye $10b trade thru greater economic engagement

byCT Report
19/06/2026

ISLAMABAD: Pakistan and Iran have renewed their commitment to strengthening economic ties and increasing bilateral trade to $10 billion through...

SBP reserves rise slightly, Pakistan’s total forex holdings reach $22.742b

byCT Report
19/06/2026

KARACHI: Pakistan’s foreign exchange reserves remained broadly stable during the week ended June 12, 2026, with the State Bank of...

Next Post

Bangladesh invents plastic alternative from jute

  • Terms and Conditions
  • Disclaimer

© 2011 Customs Today -World's first newspaper on customs. Customs Today.

No Result
View All Result
  • Transfers and Postings
  • Latest News
  • Karachi
  • Islamabad
  • Lahore
  • National
  • Chambers & Associations
  • Business
  • About Us

© 2011 Customs Today -World's first newspaper on customs. Customs Today.