Musk’s Boring Company in talks for $8.5B US rail tunnel project
Federal railroad regulators are in talks with Elon Musk’s tunneling firm, The Boring Company (TBC), over a multibillion-dollar Amtrak project, according to a report by The New York Times citing sources familiar with the matter.
The discussions involve Federal Railroad Administration officials exploring whether TBC can help save money on the Frederick Douglass Tunnel program, a project aimed at connecting Baltimore to Washington and Virginia.
Initial projections put the cost of the tunnel project at $6 billion, but current estimates suggest it could balloon to as much as $8.5 billion.
TBC was among several companies considered for a new engineering contract for the project. The talks have raised concerns about potential conflicts of interest involving Musk, who divides his time among his various companies.
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Musk’s multiple roles, including his position as a prominent figure in the cryptocurrency DOGE, have also sparked controversy, particularly after reports that DOGE’s actions have impacted resources at agencies regulating his businesses, such as the National Highway Traffic Safety Administration.