Hyperloop could add $4B to Saudi GDP and provide 124,000 jobs by 2030
A Hyperloop Centre of Excellence could break ground in King Abdullah Economic City by 2020
Virgin Hyperloop One (VHO) has announced the results of a strategic study commissioned to build the world’s first extended test and certification hyperloop track in the Kingdom of Saudi Arabia.
The study also set out plans for an R&D centre and manufacturing facility to support the development of hyperloop technology.
The Virgin Hyperloop One Centre of Excellence (CoE), if approved, could break ground in King Abdullah Economic City (KAEC) in 2020 and include an integrated test track, as well as explore the feasibility of creating a manufacturing centre and operating facility that will propel the Kingdom to the forefront of hyperloop development worldwide.
The report also illustrated how the CoE will drive domestic value by adding to the creation of more than 124,000 high-tech local jobs, supporting the technology sector by incorporating advances in robotics and AI and driving an estimated $4billion increase in KSA GDP by 2030.
The study further provides analysis on the economic impact of the CoE and wider VHO development in the Kingdom, focusing specifically on the growth of hyperloop supply chains and the acceleration of innovation clusters across the Kingdom. Assessing short and long-term metrics, the study looked at the role of a manufacturing centre and the local and global supply chains required to facilitate industrial development of this nature within KAEC.