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.
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.
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