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Pre-feasibility Study on Use of Hyperloop Technology in Saudi Arabia

Signing of agreement on pre-feasibility study with Virgin Hyperloop One (VHO). Photo by Bashir Salih
Signing of agreement on pre-feasibility study with Virgin Hyperloop One (VHO). Photo by Bashir Salih
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Pre-feasibility Study on Use of Hyperloop Technology in Saudi Arabia

Signing of agreement on pre-feasibility study with Virgin Hyperloop One (VHO). Photo by Bashir Salih
Signing of agreement on pre-feasibility study with Virgin Hyperloop One (VHO). Photo by Bashir Salih

The Saudi Ministry of Transport (MoT) announced on Thursday a contract agreement with Virgin Hyperloop One (VHO).

VHO will conduct a groundbreaking pre-feasibility study on the use of hyperloop technology for the transport of passengers and cargo, laying the groundwork for a network of hyperloop routes to be considered across Saudi Arabia.

This study was preceded by a visit for Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, to the headquarters of the company.

Speaking on the announcement, Minister of Transport Eng. Saleh Bin Nasser al-Jasser said: “Crown Prince Mohammad Bin Salman has outlined the role of transport in shaping the future of the Kingdom’s economy within Vision 2030.

“As we enter a new decade, we intend to make rapid progress in building the infrastructure required to define mobility for the future, enabling the efficient movement of people and goods. With the transformative hyperloop technology, Saudi Arabia will not only unlock unparalleled benefits for its people and the economy but will continue to lead the region into an era of prosperity.”

Jay Walder, CEO of Virgin Hyperloop One, said: “The system would be up to ten times more energy-efficient than short haul flights and 50 percent more efficient than high-speed trains. In fact, a hyperloop in the region could be powered entirely by solar panels which cover the tube, making the technology hugely attractive to the sun-abundant Kingdom.”

Harj Dhaliwal, managing director for the Middle East and India, Virgin Hyperloop One, told Asharq Al-Awsat newspaper that “this new agreement with the Ministry of Transport in Saudi Arabia brings us one step closer to the realization of our vision for a ‘Connected Saudi Arabia’ and a ‘Connected Gulf’.

“As the country’s leadership embraces new and innovative technologies, VHO is uniquely positioned as a forward-thinking transportation partner, engineered for the 21st century. VHO can connect major hubs in the country, and potentially the entire region, which supports the leadership’s renewed effort to propel the Kingdom’s economy to the forefront of innovation.”

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Saudi Arabia to Host World Investment Conference on November 25-27

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
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Saudi Arabia to Host World Investment Conference on November 25-27

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

Under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, the World Association of Investment Promotion Agencies (WAIPA) and Invest Saudi will hold the 28th annual World Investment Conference (WIC) in Riyadh from November 25 to 27.

The event will gather global leaders in investment, government, and international organizations to tackle the theme “Harnessing Digital Transformation and Sustainable Growth: Scaling Investment Opportunities”.

On the occasion, Saudi Minister of Investment Khalid Al-Falih said: “Under the wise leadership of Custodian of the Two Holy Mosques King Salaman bin Abdulaziz Al Saud and Crown Prince Mohammed, the Kingdom, driven by its ambitious Vision 2030, has become a premier world investment destination and is experiencing unprecedented growth in overall investment amounts and diversity.”

This year’s World Investment Conference in Riyadh “will be a platform for sharing our nation’s strategic vision with our partners, and an invaluable opportunity to highlight our status as a trusted partner for sustainable economic growth,” he added.

“We look forward to welcoming investment leaders from around the world to forge partnerships that will benefit both the Kingdom and global economies,” he stressed.

Vision 2030 has driven significant economic reforms in Saudi Arabia, attracting substantial foreign investment. Over 28,900 foreign investment licenses have been issued, reflecting the Kingdom's transformation into a major global investment hub.

Key factors contributing to this growth include 100% foreign ownership in specific sectors, streamlined commercial register procedures, simplified visa issuance, and other investor-friendly initiatives that have created a favorable and appealing environment for investors in various sectors, including renewable energy, logistics services, and AI.

The Kingdom's attractive investment landscape has also facilitated the development of a dynamic economy that leads in innovation and growth.

WAIPA Executive Director and CEO Ismail Ersahin said: “WAIPA is excited to bring the 28th WIC to Riyadh, a city that perfectly embodies the future of investment. The conference will provide a crucial platform for Investment Promotion Agencies and investors to discuss emerging opportunities in a rapidly evolving global landscape.”

“We deeply appreciate Saudi Arabia’s vision and leadership, which will ensure that this edition of WIC is an impactful gathering for all participants,” he remarked.

Key highlights of this year’s WIC are a range of conference tracks, such as high-level dialogues with government ministers, insightful sessions on technology, sustainability, and economic cooperation, as well as practical masterclasses for investment professionals, a dedicated entrepreneurship track that will emphasize the transformative role of startups and innovators, and exclusive matchmaking sessions that will facilitate strategic partnerships between investors, SMEs, and potential collaborators.

Participants will also have the opportunity to celebrate the achievements of Investment Promotion Agencies on the Awards Track, honoring innovation and excellence in investment facilitation.

This year’s WIC promises to be a pivotal forum as it aligns with global investment drivers: the disruptive influence of technology and AI, global supply chain resilience, energy transition toward sustainability, and the transformative role of entrepreneurs and startups in reshaping investment landscapes traditionally led by multinational corporations.

Leaders and stakeholders will discuss and explore how these factors are redefining economies and driving forward-looking investment models worldwide.

With its focus on scaling investment opportunities, WIC is designed to equip attendees with the tools, knowledge, and connections necessary to drive meaningful economic impact.