The Boring Company will bid for a contract to build and operate a high-speed Loop connecting downtown Chicago to O'Hare Airport, Fortune reported.

Elon Musk announced Nov. 28 that the Boring Company will bid for a contract to build and operate a high-speed Loop connecting downtown Chicago to O'Hare Airport, Fortune reported.

Musk's announcement via Twitter came just as Chicago Mayor Rahm Emanuel requested proposals for an O'Hare Express. The winning bidder would design, develop, operate, finance and maintain the system via a public-private partnership with the city, Fortune reported.

According to the mayor's office, no taxpayer dollars will be allocated for the project.

“Although cost estimates for the project are not yet known, the RFQ (Request for Qualifications) stipulates that the O'Hare Express Service will be funded solely by project-specific revenues (like fares or advertising) and financed entirely by the concessionaire,” said the office in a statement.

Musk said that his company's high-speed Loop proposal would differ slightly from his highly-publicized Hyperloop design.

“A Loop is like a Hyperloop, but without drawing a vacuum inside the tube,” Musk tweeted. “Don't need to get rid of air friction for short routes.”

The design will use “electric pods for sure. Rails maybe, maybe not,” Musk added.

Mayor Emanuel's goal is to give travelers an alternate, 20-minute option. Commuting between the two locations now often means a taxi or Uber ride that can cost anywhere between $40 and $60, Engadget reported.

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