Elon Musk’s The Boring Company to Build 150km of Tunnels in the UAE

The Boring Company plans to deploy more than 150 kilometres of tunnels across the UAE under an expanded partnership that builds on its existing Dubai Loop project.

The announcement comes alongside a USD 3 billion Series D funding round led by UAE and affiliated investment entities, valuing the Elon Musk-founded tunnelling company at USD 23 billion. The company said the new agreement is separate from, and in addition to, its previously awarded Dubai Loop contract.

The first phase of Dubai Loop will consist of a 6.4km pilot route with four stations linking the Dubai International Financial Centre and Dubai Mall. The planned stations are Burj Khalifa, DIFC 2, Zabeel Dubai Mall Parking and ICD Brookfield Place.

The Boring Company said precast concrete operations for phase one were underway in July. The tunnel will use 25,000 concrete segments, each weighing around 4,000 pounds, with the completed structure expected to weigh approximately 100 million pounds.

Other investors named in the round include Human Capital, Vy Capital, Valor Equity Partners, Sequoia Capital, A16Z, Temasek and Baron Capital.

The company’s Loop system in Las Vegas has carried more than four million passengers since 2021 across 11 stations. Over the past two years, The Boring Company has also expanded into a multi-city tunnelling programme, including its first hard-rock project and first international construction contract.