For connecting Mumbaikars and Punekars swiftly, Maharashtra government on Tuesday accorded infrastructure status to the Mumbai-Pune ultra-fast hyperloop transport project. The hyperloop connectivity will seek to reduce travel time between the two cities. As per a PTI report, the travel time between Mumbai to Pune will reduce to just 23 minutes.

At a meeting in Mumbai, the state Cabinet approved a proposal to give infrastructure status to the hyperloop project. Also, according to a statement from the Chief Minister’s Office, the Cabinet has approved the formation of a consortium of DP World FZE and Hyperloop Technologies as proponents of the original project.

The hyperloop will run from the Bandra Kurla Complex (BKC) in Mumbai to Wakad in Pune, covering a distance of 117.5 km. The train would run at a speed of 496km per hour and cover the distance between the two cities in just 23 minutes. Presently, the travel time between Mumbai and Pune is about three-and-a-half to four hours.

The FDI in the entire project, which will take seven years for completion, is to the tune of Rs 70,000 crore, said the statement.

In the first phase, the project will be run on a pilot basis for 11.8 km in the Pune Metropolitan region at a cost of Rs 5,000 crore, it added.