SpaceX CEO Elon Musk would on Tuesday, Sept. 27, finally shed light on his company's grand plans to establish the first human colony on Mars.

Musk will also reveal more details about SpaceX's new spaceship known as the Mars Colonial Transporter, which can carry 100 people to the alien world. He is expected to make these revelations at the International Astronautical Congress this week in Guadalajara, Mexico.

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Critics have pointed out that SpaceX's Falcon 9 rocket explosion a few weeks ago may delay the company's lofty plan to launch a manned mission to Mars. However, Musk remains optimistic.

Musk's speech at the conference speech is entitled "Making Humans a Multi-planetary Species." The event would be streamed live.

Musk is expected to elaborate further on potential colonization systems that will be carried out on the Red Planet.

Musk founded SpaceX in 2002. The private space company has established ties with NASA by flying cargo supplies to the space station for the agency and also launching commercial satellites into lower Earth orbit. Musk plans to fly NASA astronauts to the International Space Station by 2018 with "space taxis."

According to the Hannah Kerner, the executive director of the Space Frontier Foundation, since the beginning of SpaceX, Musk had set his sights on long-term Martian settlement.

As part of NASA's Mars mission known as the "Journey to Mars" program, SpaceX would transport humans near Martian orbit by 2018.

SpaceX plans to launch an unmanned Red Dragon spacecraft to Mars in 2018 - when Earth and Mars will be aligned, resulting in shorter space travel that occurs every 26 months.

The Red Dragon will be launched by SpaceX's new powerful rocket with Raptor engines that will be tested in 2022. SpaceX plans to send humans to Mars and make the first human landing by 2025.