[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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• 2026.07.03 16:59
• [Nanshankou Power Station Finishes Key Underground Construction]
• On June 30, 2026, the excavation of the underground powerhouse of the Nanshankou Pumped Storage Power Station in Golmud, Qinghai, undertaken by Three Gorges Construction, was completed. The power station is the world's largest under construction pumped storage project at an altitude of over 3500 meters, with a total installed capacity of 2.4 million kilowatts. The project has entered the pouring and equipment installation stage, and the first batch of units is planned to be put into operation in 2028. Editor/Min Jing

• 2026.07.03 16:57
• [ENERGY CHINA Gezhouba Starts Zero-Carbon Highway in Guangxi]
• On June 27, 2026, ENERGY CHINA Gezhouba Group began construction of the country's first integrated zero carbon highway project in Guangxi. Supporting photovoltaic energy storage and heavy-duty truck replenishment network, relying on ecological carbon sinks to achieve net zero carbon operation, in line with the national zero carbon channel construction deployment, and creating a demonstration model for low-carbon transformation of transportation. Editor/Min Jing