The Boring Co. claims its proposed San Antonio hyperloop would have similar daily ridership to San Francisco's BART. SanAntonio SATX SanAntonioTX Texas BoringCompany ElonMusk
that the controversial billionaire's Boring Co. proposed dolling out as much as $60 million to help finance the first phase of its proposed hyperloop project. The underground tunnel would connect San Antonio International Airport to mixed-used development The Pearl.
The newly proposed funding boost for the project's first phase is a step up from the $27 million-$45 million previously offered by Boring Co., theAlthough no official agreements have been reached between the Alamo RMA and Boring Co., the funding increase proposed by Musk's company may indicate that the regional transit authority is intent on moving forward on the project.
According to the Alamo RMA, the tunnel would cost $247 million to $289 million to complete in its entirety. Boring Co.'s proposal projects the underground passage would ferry 112,000 passengers daily to and from SA's modest airport, creating $25 million in revenue for the cash-strapped RMA.
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