CHENNAI: In a significant development, the Union Railway Ministry has approved Rs 8.34 crore for the Indian Institute of Technology, Madras (IIT-M) to carry out the proposed project on "Hyperloop" technology.
In an official release from the Southern Railway, it said "Proposal submitted by IIT Madras for collaborative working with Indian Railways for indigenous development and validation of "Hyperloop" technology-based transportation system and its subsystems and setting-up of a Centre of Excellence for Hyperloop Technology at IIT Madras at a total estimated cost of Rs.8.34 crore".
Accordingly, Hyperloop is the 5th mode of transportation, a high-speed train that travels in a near-vacuum tube. The reduced air resistance allows the capsule inside the tube to reach speeds of more than 1,000 kilometers per hour.
The announcement came after the Union Minister of Railways, Electronics Information Technology Ashwini Vaishnaw on Thursday inspected the demo of the "HyperLoop" Project, which has a bearing on the future technology for Railways and transportation.
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