Dubai port operator, Hyperloop team up on high-speed cargo delivery

DUBAI: Dubai’s giant port operator DP World on Sunday joined hands with Virgin Hyperloop One to create a global firm that will build high-speed cargo delivery systems. The new company, DP World Cargospeed, will create futuristic transport systems using Hyperloop´s tube-based technology to deliver goods and link existing road, rail and air transport infrastructure. And while it will require tens of billions of dollars in investments, it already has potential projects in India, the United Arab Emirates and Saudi Arabia, officials said. Sultan Ahmed bin Sulayem, head of state-owned DP World, said the partnership with Hyperloop, backed by British tycoon Richard Branson, would help “shape the future of global logistics”. The launch was attended by the UAE prime minister and ruler of Dubai, Sheikh Mohammed bin Rashed al-Maktoum. “With this system you can move any cargo around the world in less than 14 hours, whether you are in China or in the North Pole, it will not take more than 14 hours,” Sulayem said.