Obayashi Corporation from Japan has announced its plans to build an elevator to deliver people and cargo to geostationary orbit. The project involves the construction of a 5-section structure with a length of up to 96,000 km. It will consist of a counterweight with a tether that will be fixed in space and on the surface of the Earth. The elevator will be able to move at a speed of 200 km/h and carry up to 30 people at a time. Now engineers are choosing the main material to build the elevator and searching for investors. Lightweight and strong carbon nanotubes will probably be used to build the structure. It is planned that this development will help to save money for the study of the solar system and facilitate flights to Mars. According to preliminary estimates, the cost of the “space elevator” will be at least $100,000,000,000,000,000. Obayashi Corporation plans to begin construction in 2025 and complete construction in 2050.