Hyperloop. The very word invokes a feeling of mystery and disbelief as to whether it will ever make it in India. We, at the Hyperloop India team, believe it is possible. We’re working towards the Hyperloop One Global Competition.
In order to answer the question, we want to look at India’s Government policy towards the Hyperloop. Not explicitly, but enough to ascertain whether it is possible in our country.
In order to be a part of Hyperloop India, understanding the methods of funding, permitting, and regulating infrastructure projects in India will go a long way. Here are a few guidelines (For the complete section, please have a look at the Guidelines):
Indian Government investment pattern
- Direct funding of 100% of the capital cost by the State, with 100% of the operational cost of the project borne by a State enterprise.
- Direct funding of 100% of the capital cost by the State, with the operation of the project franchised to private enterprise.
- Public Private Partnership for the project (e.g. Availability Payment models). If known, please state which aspects of DBFOM – Design, Build, Finance, Operate & Maintain – are carried out by the private sector. This varies in PPP, sometimes it is only O&M that is outsourced, in other cases the entire DBFOM package is competitively tendered.
- By creating long-term monopoly concessions to enable the private sector to bear the entire risk of a project (typical in toll roads, for example).
What will the Team do for this?
- We provide examples of completed infrastructure detailing project dates, capital costs, length of transport infrastructure, and markets served.
- We also explain the risk mitigation efforts offered by the Indian Government.
- The Value of Time typically employed by the Indian Government will also be intimated by us.
- We elaborate the main socioeconomic benefits that we think India can derive, from constructing the Hyperloop.
We plan to build Hyperloop in India as soon as possible, and for this, we require an acceleration plan from you. This plan would not only provide guidelines for future development, but also help us keep track of our progress.
Construction of Hyperloop will require a lot of resources and manpower. With such drastic needs an acceleration plan will be very crucial as it elaborate on how to coordinate, streamline, and accelerate all the processes required for new infrastructure development.
We would need to:
- Accelerate the necessary Indian Government legislation to permit Hyperloop to be constructed on our corridor
- Accelerate the necessary regulatory approval to operate Hyperloop on our corridor.
- Establish or adopt a procurement regime with enables Hyperloop to be delivered within procurement rules applicable to our region.
- Secure Indian Government support for the project via public sector co-investment, investment guarantees, downstream participation in PPP-style regimes, etc.
- Secure government inward investment incentives.
- Align economic development policy to maximize the benefits of Hyperloop on our corridor.
- Align spatial development policy to maximize the benefits of Hyperloop on our corridor.
- Develop a project finance structure which is likely to attract maximum commercial investor participation
We also envision partnership with other regions in order to accelerate the Hyperloop Dream.