Elon Musk’s Boring Company plans 150km tunnel network across UAE
Elon Musk’s The Boring Company is preparing for a major expansion in the UAE, with plans to develop more than 150 kilometres of underground transport tunnels across the country.
The tunnelling company has raised $3 billion in new funding, led by UAE-based entities, in a financing round that values the business at $23 billion. The investment is expected to accelerate its existing partnership with the UAE and support large-scale deployment of underground infrastructure.
Expansion goes beyond Dubai Loop
The new plans represent a significant expansion beyond the previously announced Dubai Loop project.
The Boring Company said the latest investment will build on its existing work with the UAE and allow it to deploy underground transport infrastructure on a much larger scale.
More than 150 kilometres of tunnels are now planned across the Emirates, although individual routes, locations and construction timelines have not yet been detailed.
Dubai is already set to become the second city after Las Vegas to implement the company’s Loop-based transport model.
$3 billion raised for the next stage
The latest Series D funding round includes a group of major international investors.
Participants include Human Capital, Vy Capital, Valor Equity Partners, Sequoia Capital, Andreessen Horowitz, Temasek, Shamal Holding and Baron Capital, alongside other existing and new investors.
The $3 billion injection takes The Boring Company’s valuation to $23 billion and provides fresh capital for the company’s next phase of development.
Dubai-based global investment company Shamal Holding said the technology has moved beyond the proof-of-concept stage and highlighted the company’s operating experience in Las Vegas.
More than four million passengers carried in Las Vegas
The Boring Company’s Loop system has transported more than four million passengers in Las Vegas since 2021.
The operational network is currently the company’s most established example of its underground transport concept.
The UAE projects are expected to become one of the most significant tests of whether the technology can be deployed on a much larger geographic scale.
Alongside its UAE expansion, the company has also begun work on a tunnel project in Nashville, Tennessee.
UAE becomes central to The Boring Company’s expansion
The investment puts the UAE at the centre of The Boring Company’s international growth plans.
The Dubai Loop agreement had already established a relationship between the company and the Emirates, but the proposed 150km network suggests ambitions extending well beyond a single transport project.
The company says the new financing will accelerate that partnership and support the deployment of underground infrastructure across the country.
A major new chapter for underground transport in the UAE
The Boring Company has spent years promoting underground networks as a possible way to move people through increasingly congested cities.
Its ambitions have often been significantly larger than the projects ultimately delivered, with the Las Vegas system remaining its main operational network to date.
The UAE could now become one of the company’s most important markets.
With $3 billion in new capital, a valuation of $23 billion and plans for more than 150 kilometres of tunnels, Elon Musk’s tunnelling company is preparing to significantly increase its presence in the Emirates — building on Dubai Loop and potentially creating one of its largest underground transport networks anywhere in the world.
