The MoU with the government of Alberta in Canada is intended to facilitate the process of attracting private investment to the province, in order to build the multi-billion-dollar infrastructure project. The project is estimated to create up to 38,000 jobs over 10 years, diversify Alberta’s economy, improve the efficient movement of people and goods, and reduce Alberta’s carbon emissions by up to 300,000 tonnes per year.
The MoU will see Alberta Transportation:
- support TransPod undertaking further study on the feasibility of developing its technology in Alberta;
- share available transportation data as appropriate that may assist TransPod in assessing the feasibility of its technology;
- work with TransPod officials to identify suitable land that can safely accommodate a test track;
- participate in discussions with potential large institutional investors where suitable.
No financial commitments or endorsements have been made by Alberta Transportation regarding the TransPod project.
The phases of the Alberta TransPod project are:
- short-term: feasibility study (2020-2022);
- short-term: research and development phase (2020-2024);
- medium-term: test track construction and high-speed tests (2022-2027);
- long-term: construction of a full inter-city line between Edmonton and Calgary (to begin in 2025).
“Alberta’s government is supporting new and exciting opportunities for job creation and innovation,” said Ric McIver, Alberta minister of transportation. “By supporting TransPod’s feasibility study, Alberta Transportation will provide important information contributing to the research, development, testing, and construction of a full inter-city TransPod line between Edmonton and Calgary. We look forward to seeing this work put Alberta at the forefront of the movement of goods and people.”