Mumbai: The excitement of travelling on the sleek Mumbai-Pune Expressway after its completion in 2002 was palpable among passengers as travel time was reduced from five to three hours.

But with several accidents on this busy route and traffic jams common, the announcement of a hyperloop train has once again stirred up hope and excitement.

On Sunday evening, the Maharashtra government announced its intent to build a Virgin Hyperloop between Mumbai and Pune that will reduce travel time between the two cities from three hours to 25 minutes.

This would be a new form of transport and technology for India.

The Maharashtra government made the announcement at the Magnetic Maharashtra conclave on Sunday evening when a Framework Agreement was signed with Virgin Hyperloop One (VHO) chairman Richard Branson in the presence of Prime Minister Narendra Modi.

Branson said the hyperloop route would link central Pune, the proposed Navi Mumbai International Airport and Mumbai in 25 minutes, connect 26 million people. It added the project would support 150 million passenger trips per year, thus helping to create a thriving, competitive megaregion.

“Virgin Hyperloop One can help India become a global transportation pioneer and forge a new world-changing industry,” he said. “As our team’s studies have found, the Pune-Mumbai route could result in $55 billion (Dh201 billion) in socioeconomic benefits, time savings, accident reduction and operational cost savings, over 30 years of operation.”

The hyperloop train was first unveiled by business magnate, inventor Elon Musk, a South African-born Canadian American, for a high-speed transportation system incorporating reduced-pressure tubes in which pressurised capsules ride on an air cushion driven by linear induction motors and air compressors.

“We expect the high capacity passenger and cargo hyperloop system to create tens of thousands of jobs, helping to attract new business and investment in the region,” Branson said in a release. The 100 per cent electric, efficient system will also ease severe expressway congestion and could reduce greenhouse gas emissions up to 86,000 tons over 30 years.

“I believe Virgin Hyperloop One could have the same impact upon India in the 21st century as trains did in the 20th century. The Pune-Mumbai route is an ideal first corridor as part of the national hyperloop network that will dramatically reduce travel times between most of India’s major cities to under two hours.”

He added that Virgin Hyperloop One is the only company in the world that has built a fully operational hyperloop system.

Last year, the Andhra Pradesh government signed with the US-based company to introduce the futuristic hyperloop transportation system between Vijayawada and state capital Amravati. The usually one-hour, i.e. 35km, distance will be reduced to a six-minute trip.