Canada to build multibillion-dollar hyperloop train linking 2 major cities

• 11 April 2022
• Construction Focus
• 1346 Views

French Canadian firm TransPod says it has already raised US$550 million for its multibillion-dollar project to build an ultra-fast vacuum tube link between Calgary and Edmonton, reported GCR.

The money was raised from UK project finance group Broughton Capital and Chinese state-owned industrial trading company China-East Resources Import & Export.

If it is built, the hyperloop would whisk passengers along the 300km line in just 45 minutes, whereas a journey now takes around three hours by car.

It would also reduce carbon emissions by 636,000 tonnes a year.

The construction and operation of a TransPod line will help Albertans move around easily, create new jobs and facilitate investment in the region.

The project’s feasibility study claimed the economic benefits would include up to 140,000 new jobs and a US$15.2bn increase in the province’s GDP by 2030.

TransPod will continue to develop the technology and has yet to acquire land, obtain construction permits and conduct an environmental impact assessment.

The project is expected to start building in 2027.

• Mega Infrastructure and Engineering