The construction of the 10-kilometer circuit would take place over multiple phases, CNBC reported. HTT also plans to begin construction in 2019, making the hyperloop operational by 2020.
“This agreement creates the basis for the first commercial Hyperloop system in the world here in the Emirates, with the goal of connecting Abu Dhabi to Al Ain, Dubai, and Riyadh, Saudi Arabia,” Bibop Gresta, chairman of HTT, said in a press release Wednesday, according to CNBC.
The new hyperloop location will also be near the Al Maktoum International Airport and the Expo 2020 site, a large festival held in Dubai that is expected to bring millions of visitors, Engadget noted.
HTT has been working on a number of other initiatives worldwide including the start of construction on a test track in Toulouse, France.
While hyperloop technology seems like a distant future, HTT has been working on bringing the new transportation to other places as well including the United States and other parts of Europe. The company’s not alone in its efforts either. Elon Musk, of SpaceX and Tesla, has his own hyperloop project: The Boring Company, which he says plans to connect cities across the United States. Virgin’s Hyperloop One, a project of billionaire Richard Branson, has also been testing hyperloop technology.