It’s confirmed. Hyperloop will begin trials for its super-fast transportation technology in India as soon as it gets a nod from the transport ministry.

“The proposal is on Mr Gadkari’s table. We are ready,” Bibop G Gresta, chairman and Chief Bibop Officer, Hyperloop Transportation Technologies Inc (HTT), told FactorDaily here in Bengaluru.

Hyperloop is a new transportation technology that uses a pod through a near-vacuum tube to move objects and people from one place to the other.It currently costs about $40 million per kilometer. Hyperloop, which can move passengers at airline speeds, will take about four years from the date of approval to move the first passenger.

“The world is watching you guys (India). This can be the greatest opportunity or the biggest disaster. Only history will tell,” said Gresta, who is slated to speak at the Carnegie India Global Technology Summit later today.

Gresta, who met Prime Minster Modi and transportation minister Nitin Gadkari earlier, said, “They are really willing to make a change in this country. Actually, we are discussing a project here in India. We are on the table to do a feasibility study for a big route.” Huge density of population and the lack of infrastructure represents a huge market opportunity for Hyperloop in India.

Hyperloop Transporation Technologies is not the same as Hyperloop One. The two companies are competitors. Gadkari has also offered land to Hyperloop One, according to media reports earlier.

“We are the original Hyperloop with trademarks in India. There shouldn’t be any confusion,” said Gresta.