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Boring Company gets hold of building Las Vegas transport tunnel



According to the company's website, the typical walking time between the new exhibition hall to the existing north / central hall is around 15 minutes. A trip aboard a Loop's modified Tesla vehicle only takes a minute. TechCrunch says the company will build two tunnels for vehicles, which are expected to be shorter and only one kilometer long, and a pedestrian tunnel for humans.

When reports came out that The Las Vegas Convention and Visitors Authority recommended The Boring Company for the project in early March, they simply said the initiative would cost between $ 35 and $ 55 million. The Guardian recently published more details of the deal, though, saying that Musk's company will not get the full amount altogether. It will receive $ 1

.2 million in advance in this fiscal year, followed by $ 15 million in 2020 and $ 32.5 million in 2021.

Although the contract is a win for the company, it also risks accepting to do it. The contract terms specify that Boring Company will pay a penalty of $ 300,000 per event (up to $ 4.5 million in total) if it is not possible to provide full passenger capacity during the LVCC Loops first 18 months online. On Twitter, Musk says his company will start digging the Las Vegas tunnel in two months to complete by the end of the year.


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