Hyperloop One, the futuristic high-speed transport promoter has scheduled an event in Delhi on February 28. The US based company is creating a new mode of transport that offers speeds three to four times faster than high-speed rail for 67% of the cost to deploy and operate.

Minister of Railways, Suresh Prabhu, Niti Ayog CEO Amitabh Kant, Shervin Pishevar, Executive Chairman and Co-Founder of Hyperloop One will be present at the event. Hyperloop had announced a worldwide competition in May 2016 “to identify and select locations around the world with the potential to develop and construct the world’s first hyperloop networks.” Out of 35 participants, 5 selected finalists will make presentations at the event in New Delhi.

The company is potentially looking at five Indian sectors where the system can be built: Delhi-Mumbai, Bangalore-Thiruvananthapuram, Chennai-Bangalore, Mumbai-Chennai and a ‘Port Connector’ project. Brainchild of entrepreneur Elon Musk, Hyperloop was announced in 2013. The system proposes to propel pod-like vehicles through a near-vacuum tube at speeds close to 1200 km/h. It is projected as the fastest way to travel between two places.