6/14/2018, 6:07 AM (Source: TeleTrader)
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Boring Co. to build high-speed transit in Chicago

Elon Musk's The Boring Company is to build a high-speed transit link, connecting O’Hare International Airport and the downtown of Chicago, according to Chicago Tribune. The company won the bid beating a consortium that included engineering firm Mott MacDonald and an infrastructure fund backed by former NBA star Earvin "Magic" Johnson.

The cost of the entire project is not expected to exceed $1 billion, according to sources with knowledge on the matter. "If you look at the history of Chicago… every time we’ve been an innovator in transportation, we have seized the future," Chicago Mayor Rahm Emanuel told The Tribune.

In April, The Boring Company raised $113 million in funding for its transportation projects, according to a filing with the United States Securities and Exchange Commission.

Breaking the News / BM