The building in Muhaisnah 4 had suffered structural damage last week and has been sealed off as authorities conduct investigations
During a press conference in Abu Dhabi, the Office of Shaikh Falah bin Zayed Al Nahyan announced that a partnership agreement was signed with Hyperloop Transportation Technologies (HTT) to link the two cities via hyperloop technology.
The partnership will allow HTT to accelerate the pace of the project, which follows the study agreement signed between HTT and DMAT in November 2016. Once the Federal Transport Authority (FTA) and DMAT have given approval, the project would begin in as little as 38 months.
Following the agreement, the coming months will see the organisations undertaking crucial route analysis, feasibility studies, cost estimates and development schedule. HTT is the only initiative of its kind that has the support of the Abu Dhabi government.
Bibop Gresta, chairman of HTT, told Khaleej Times there is a growing interest for hyperloop in the UAE.
"We are talking with several entities here and there are a lot of interest from the public and private sectors."
"We are discussing with several partners for potential other routs and projects, but right now they are not mature enough to discuss, although there are several projects, including in Dubai."
Gresta said the Hyperloop would "revolutionise transportation", however, he did not confirm the average cost passengers would have to pay to commute between the cities.
"There is no average price from Abu Dhabi to Al Ain. We need to finish the feasibility study and then the price range can be given - it could even be free - but we want to go step by step."
He highlighted that the travel capsule not only changes the future of transportation in the UAE, but it will also change the safety of transportation.
"We illuminated the human factor - 70 per cent of road accidents are caused by humans - we supervise by humans, but it is all computer generated."
Gresta noted that it costs $40 million per kilometer to construct the Hyperloop, although prices differ for each country.
The vision of UAE's future is largely linked to sustainability and protecting the environment, which is also why the new transportation is an imperative leap forward.
HTT combines a range of renewable energy, including wind, solar panel and kinetic energy, thus producing up to 30 per cent more energy.
"It's fast, it's efficient and it doesn't use electricity, it is one-tenth of the cost of a normal high-speed rail."
"This is the biggest effort humanity has done to solve one of the biggest problems in humanity."
"This is the most amazing country to build the hyperloop," added Gresta.
The sponsorship from the Office of Shaikh Falah bin Zayed Al Nahyan is the latest in a string of significant contributions that have allowed HTT to surpass $100 million in total investments.
Ahmed Al Nuaimi, Director at the Office of Shaikh Falah bin Zayed Al Nahyan, said the development of the modern transportation is an immense step for Abu Dhabi.
"This is an important step forward. It will generate happiness and ease for residents and visitors."
Moustafa Samir, Advisor at the Office of Shaikh Falah bin Zayed Al Nahyan, said the project would strengthen the position of Abu Dhabi, both internationally and regionally.
"In line with the Abu Dhabi 2030 vision, the emirate is keen to take a leading role in the launch and adoption of initiatives and projects that are sustainable and based on the latest technologies and innovations."
jasmine@khaleejtimes.com
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