You may have recently read an article from our editorial office dedicated to the progress being made by the Boring Company under the leadership of renowned philanthropist Elon Musk. The company is trying to establish itself in the field of non-traditional projects connected with moving people or vehicles. As we all know, from the point of view of financHowever, Musk's companies are not the best on paper. However, the Boring Company receives a significant influx of financii, which is reported at $112,5 million.
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The money that the company received should be used to build the futuristic Hyperloop project, which we have heard about quite often in recent years. The information reveals that he will pour up to 90% of the mentioned amount down the throat of the company himself Elon Musk. In the future, the company plans to build a network of tunnels, some of which should connect the city of Chicago with the famous O'Hare airport. In addition to Musk himself, approximately thirty unspecified investors participated in the financial support of the company, as well as employeesanci, who form the pillars of the Boring Company.
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The specified high-speed travel project in the form of capsules in a pipeline, known as Hyperloop, is the reason for these investments. The company states that the excavation work required for the implementation of the project is relatively financially demanding, while the price for one mile of the tunnel can climb to an astronomical sum - 1 billion dollars. However, Boring Company engineers are confident that they will be able to reduce the price by almost 10 times. We'll see what the final amount will be after reducing expenses.
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As for the Hyperloop project, last year the company received conditional approval from MiniMaryland State Department of Transportation. The contract should include the construction of a tunnel between the cities of Baltimore and Washington. The company and the construction were also supported by the governor of the state of Maryland and several members of Congress, who secured moderate state support for the project. Analysts do not dare to estimate where the company will move, either from a financial point of view or regarding the construction of the project itself. The vision of the Hyperloop is also the planned expansion outside the mentioned cities, which no longer appears to be just the music of the future. We may also see high-speed travel in Europe within the next decade.
