Russia plans own Hyperloop at half the price of the US project

Russia is reportedly building its own analog Hyperloop according to a report. According to the head of Center for the development of passenger rail transport, Anatoly Zaitsev, the project includes construction of major roads to connect western part of Russia to its eastern, northern and southern extremes.

The first segment will connect the ports of Baltic Sea with the Moscow terminals. " The cost of this project by Western standards is $ 21 billion, according to our standards, it just about anywhere half as much, that is $ 12-13 billion," Zaitsev told RBC.

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While the initial stage of the project will be at the expense of investors, to create a sample platform, other means will be required later on. The Russian Railways is also working with Hyperloop One -- one of the companies from the US working on the similar projects.

"At the opening phase, which has been funded by [Gordon Atlantic], we have managed to create magnetic levitation to lift any weight. The platform and the container in question are located in St.Petersburg and are available to the public. Supported by the investor, we are now taking final steps in equipping the laboratory where materials to be used in the project will be selected. In the future, however, more significant funding will be required," adds Zaitsev.