Elon Musks Boring Co. just landed his first paying customer – a contract to build a loop at the Las Vegas Convention Center.
The board of the Las Vegas Visitors and Convention Authority voted Wednesday to approve a $ 48.6 million contract with Musk & # 39; s tunneling company. The loop would move people across 200 acres of conference room with two tunnels for vehicles and three stations according to the contract.
The authority spends $ 1.4 billion. To expand and renovate the congress center and see the LVCC Loop as the kind of technology that helps attract meeting and convention business.
Las Vegas has other bulk shipping systems, including a monorail that travels along much of the strip. But the company that runs the monorail went bankrupt in 201
The meeting and convention business is becoming increasingly important for Las Vegas & # 39; bottom line. Of the 42 million visitors in the city last year, 6.6 million came to meetings. And they came during weekdays, drove the demand for dining, entertainment and games, according to data from visitors and the convention authority.
An efficient high-speed train master at the congress center can attract even more visitors. Suggestions call for an underground loop that connects the entire Las Vegas Strip, McCarren International Airport, the new Raiders stadium and possibly even a route from Los Angeles to Las Vegas.
Boring Company is proud to reduce the cost of tunneling, which can run as much as $ 1 billion per tonne. kilometers by shrinking tunnel diameters and increasing the speed of the tunnel drilling machines. It spent $ 10 million to roll out a mile-long test tunnel at its Hawthorne facility in Los Angeles in December.
It also works on projects in Los Angeles, Chicago and Maryland. Despite fanfare and optimism that accompanied the messages at these sites, the projects have been stymied by bureaucratic teams, opposition from neighbors, and concerns that megatunnels come with a megaprice and great annoyance with massive projects, like Big Grave in Boston or Second Avenue. Subway in New York.
The convention authority plans to get the loop running in time for the Consumer Electronics Show in Las Vegas in January 2021. If it is completed, it would be The Boring Co. & # 39; s first commercial operational project.