Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid al-Maktoum on Friday signed an agreement for construction of the Dubai Loop project with Elon Musk's infrastructure firm the Boring Company, Dubai Media Office said in a statement.

The United Arab Emirates' Artificial Intelligence Minister announced the project on a video interview with Musk during the World Governments Summit.

Dubai is set to transform urban transportation with a groundbreaking underground transit system. Elon Musk’s Boring Company will collaborate with the Dubai Government and the Roads and Transport Authority (RTA) to develop the Dubai Loop,

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, has announced a collaboration with Elon Musk on the new underground Dubai Loop project.