Lucid Motors to build first overseas production plant in Saudi Arabia--Seetao

[Lucid Motors to build first overseas production plant in Saudi Arabia] Lucid Motors said it will build a production plant in Saudi Arabia with an annual capacity of 155,000 zero-emission electric vehicles. The deals are estimated to give Lucid a total of up to $3.4 billion in funding and incentives over the next 15 years to build and operate manufacturing plants in the kingdom. AMP-2, which will be located in King Abdullah Economic City, is the first production facility outside the U.S. for a public investment fund-backed electric vehicle manufacturer, according to a statement. Editor/Xing Wentao

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2026.03.02 09:41
[Daikin Heavy Industries wins major wind power deal in Germany]
Daikin Heavy Industries, a leading wind turbine tower manufacturer, announced that it has signed a supply contract with the Polish shipyard Wulkan in Szczecin to manufacture at least 40 sets of internal platform foundation components for the Nordseecluster B offshore wind power project in the North Sea of Germany. The contract value is approximately 11 million euros. The Phase B project has an installed capacity of 900MW and is planned to be put into operation in 2029. Production will start at the end of February 2026 in Poland, creating approximately 200 job opportunities for the local area.Editor/Gao Xue

2026.03.02 09:39
[Pakistan restarts Karachi Loop Railway]
The government of Sindh Province in Pakistan has once again sought financing from the Asian Development Bank to restart the Karachi Loop Railway project, which has been on hold for many years. The project is approximately 43 kilometers long, with 24 stations and a total investment of about 2 billion US dollars. It was discontinued in the late 1990s. The Asian Development Bank agrees in principle to support and suggests that the provincial government submit the documents as soon as possible for the board of directors to review. The project was included in the China Pakistan Economic Corridor in 2016, but multiple attempts at revitalization have been hindered.Editor/Gao Xue