[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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• 2026.03.26 18:07
• [Dazhong Mining and Wanhua jointly build lithium salt project]
• On March 23, 2026, Dazhong Mining announced that it had signed an investment agreement with the Meishan High tech Industrial Park Management Committee and Wanhua Chemical (Sichuan) Battery Material Technology Co., Ltd. to cooperate in the construction of a lithium salt project with an annual output of 200000 tons in Meishan, Sichuan. According to the agreement, Dazhong Mining will also establish a joint venture subsidiary with Wanhua Battery Materials Company to jointly promote the construction of the first phase of the project.Editor/Yang Meiling

• 2026.03.26 18:05
• [Hebei Longyao large-scale energy storage project begins construction]
• On March 20, 2026, the EPC general contracting candidate for the second phase of the Guoshun New Independent Energy Storage Demonstration Project in Longyao County was publicly announced. The expansion scale of the project is 200MW/800MWh, and the unit price range of the three shortlisted bidding consortia is approximately 0.7055 to 0.7067 yuan/watt hour. The final plan for the energy storage demonstration project is 300MW/1000MWh, and the first phase of 100MW/200MWh has been completed. The energy storage units of the second phase project will be centrally arranged, and the power will be connected to existing facilities after being boosted. The project also plans to expand a 220MVA main transformer in the first phase of the substation to meet the access requirements.Editor/Yang Meiling