Elon Musk’s infrastructure firm, The Boring Company, has finalized a Series D funding round worth Dh11 billion, primarily supported by UAE-based investment groups. This capital injection values the enterprise at $23 billion and facilitates the construction of over 150 kilometers of tunnels throughout the United Arab Emirates. This initiative expands upon the firm's prior commitment to the Dubai Loop project. The initial stage of the Dubai Loop features a 6.4-kilometer pilot route connecting four key locations, including the Dubai International Financial Centre, Dubai Mall, Burj Khalifa, and ICD Brookfield Place. This agreement marks a significant escalation in the partnership between the American company and Emirati authorities to enhance urban transit infrastructure through advanced subterranean transport solutions.
Source : Khaleej Times
Photo : Khaleej Times
