06:38 GMT +319 August 2019
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    Hyperloop Transportation System

    Russia Seeks to Attract Chinese Funds for High-Speed Hyperloop

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    Russian Transport Minister Maksim Sokolov said that Russia seeks to attract Chinese investment for the construction of Russia's first super high-speed Hyperloop transport system.

    ST. PETERSBURG (Sputnik) — Russia seeks to attract Chinese investment for the construction of Russia's first super high-speed Hyperloop transport system, Russian Transport Minister Maksim Sokolov said Thursday.

    "The Russia-China intergovernmental council will convene in a month. I will suggest that my counterpart consider this project, in particular in terms of investments," Sokolov told journalists.

    He added that the Hyperloop construction project would be funded by private investors.

    The Hyperloop concept was proposed by prominent US businessman and engineer Elon Musk and subsequently made publicly available. The concept envisages the use of capsules transported via reduced-pressure tubes, which would make it possible to reach speeds higher than that of high-speed trains and planes.

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