DUBAI (Reuters) - 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 project between the Roads and Transport Authority and Musk's company has a capacity of 160,000 passengers per hour and a track length that exceeds 100 kilometers (62 miles), the statement said.

The Dubai Loop is a high-speed transportation network.