TransPod Starts Tube Transportation Project in Alberta

TransPod, the startup building the TransPod Line a new ultra-high-speed transportation system, to disrupt and redefine commercial transportation – today announced the next phase of the multibillion-dollar infrastructure project in Alberta, Canada. Broughton Capital Grou, in cooperation with China-East Resources Import & Export Co, have agreed in principle to provide a combined USD 550 million finance and Master EPC arrangement respectively to accelerate development of a TransPod Line between Edmonton and Calgary and drive economic growth in the region. An already-released feasibility study on the TransPod Line confirmed that this ultra-high-speed transportation project will create up to 140,000 jobs and add $19.2B to the region’s GDP throughout construction, and the Master EPC arrangement is expected to involve significant contribution from Canadian contractors.

Key highlights from the Alberta TransPod feasibility study include the following:

Substantial economic growth: The Alberta TransPod Line will add $19.2 billion (or 6.25 per cent) to the province’s GDP by the year 2030.

Significant employment growth: The Alberta TransPod infrastructure project will create 15,600 jobs per year, totaling 140,000 jobs over nine years.

Improved affordability for travellers: Riding TransPod will take 45 minutes from Calgary to Edmonton, at an estimated ticket cost of $90 CAD, compared to more than three hours spent driving or a plane ticket costing about $162.

Reduction in carbon footprint: Over the course of a year, the expected ridership between Calgary and Edmonton will reduce CO2 emissions by 636,000 tonnes per year, or the equivalent of planting a forest four times bigger than Calgary.

To support regional job development and provide employee training for the TransPod Line in Alberta, TransPod has partnered with Building Trades of Alberta to leverage its regional expertise and partner network.

TransPod Starts Tube Transportation Project in Alberta

Strategic Research Institute

Related Stories