DENVER (AP) — Colorado's dream of a futuristic transportation system that would move passengers and freight at speeds of nearly 700 mph using a pod and tube system is estimated to cost about $24 billion to build.

The state's proposed route — named one of 10 global finalists this month by the Los Angeles-based Hyperloop One — accounts for the 360 miles connecting Denver to Pueblo, Vail and Cheyenne, Wyoming.

Shailen Bhatt, executive director of the Colorado Department of Transportation, says a study must now look at the feasibility of building and funding the project, which will not be paid for by the state.

Hyperloop One is trying to identify the best routes for its new transportation system, which would use pods lifted above a track by magnetic levitation.