[TRSDC signs first $400 million joint venture with Al Mutlaq Group] Red Sea Development Corporation signed a joint venture agreement worth 1.5 billion riyals with Almutlaq Real Estate Investment Co., a subsidiary of AlMutlaq Group. Under the agreement, the two companies will develop Jumeirah Red Sea Resort, a 159-room luxury resort on Shura, the hub island of the Red Sea destination, which is currently under construction and is expected to open in early 2024. Editor/Xing Wentao

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• 2026.08.19 16:25
• [The strategic position of energy in Xinjiang is further highlighted]
• The National Development and Reform Commission and the National Energy Administration recently issued the 15th Five Year Plan for the development of oil and gas, which clearly outlines the relevant arrangements for Xinjiang in multiple places. The plan includes the Tarim, Junggar, and Qaidam basins as national level oil and gas strategic support bases, promoting the construction of the Hami coal to oil and gas base in Zhundong, and initiating the construction of export channels such as the West East Gas Pipeline Fourth and Fifth Lines. With the implementation of the plan, the positioning of Xinjiang's national energy and resource strategic guarantee base will be further consolidated, and the role of the national energy ballast stone will continue to strengthen, providing core support for ensuring national energy security. Editor/Cheng Liting

• 2026.08.19 16:24
• [Xining Ganhe Industrial Park Low Oxygen Copper Pole Project Starts Construction]
• On August 18, 2026, Qinghai Xinding Copper Source New Materials' annual production of 220000 tons of low oxygen copper rod continuous casting and rolling production line project officially started construction in Ganhe Industrial Park, Xining National Economic and Technological Development Zone. As a key achievement of chain investment promotion in the park, the project has a total investment of 300 million yuan and adopts advanced domestic continuous casting and rolling equipment. After completion, it can form an annual production capacity of 220000 tons of high-end low oxygen copper rods. Editor/Cheng Liting