Hyperloop One plans to have a full-fledged transportation system by 2020 / John Locher / AP

The Moscow government, Ziyavudin Magomedov’s Summa Group, and Hyperloop Technologies signed a memorandum at the St. Petersburg International Economic Forum. The parties to the agreement want to collaborate to create a “concept for the application of Hyperloop technology (in whole or in part)” in Moscow, according to William Shor, managing director of Caspian VC Partners (Magomedov’s investment fund), and a representative of the Moscow mayor’s office.

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It is expected that Hyperloop and Summa will develop a preliminary feasibility study for a project for a passenger transport route operating using Hyperloop technology, a representative of the Moscow mayor's office said.

Hyperloop is a project based on the idea of billionaire Elon Musk, known for the production of electric cars Tesla, private space company SpaceX and the PayPal payment system. Hyperloop is a capsule on air cushions, it is assumed that it will transport passengers through pipes in low pressure conditions at a speed of about 1200 km / h, close to the speed of sound. Hyperloop One plans to create a full-fledged transport system by 2020. The first tests took place in May 2016 in the USA in the desert near Las Vegas.

In Moscow, after a feasibility study is done, it will be decided whether it is advisable to use Hyperloop in the city. Currently, two main options are being considered as a way to use the technology, says a city hall employee. The first is to transport passengers between the airports of the Moscow aviation hub. The second is to develop transport links with new Moscow.

Caspian VC Fund is one of the investors in Hyperloop Technologies. In May, Magomedov's fund participated in an $80 million investment round together with co-investors. Earlier, Caspian VC Hyperloop Technologies participated in an $11.1 million round. Among other investments of Caspian VC are Uber, Uber China, Peek Travel, Diamond Foundry, the investment fund's website says.

Moscow government agrees on Hyperloop in the capital