[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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• 2026.08.14 14:29
• [Guangzhou power grid reaches three new highs in load within the year]
• At 13:46 on August 12, 2026, the load of the Guangzhou power grid system reached its historical peak for the third time this year, with a maximum load of 26.231 million kilowatts, a year-on-year increase of 4.46%. Faced with the dual challenges of sustained high temperatures and rising electricity demand, the Guangdong Guangzhou Power Supply Bureau of Southern Power Grid is working together to ensure the safe and stable operation of the power grid during peak hours through the coordination of source, grid, load, and storage.Editor/Gong Ziwei

• 2026.08.14 14:23
• [Lianyi crude oil pipeline Lianhuai section put into operation]
• On August 13, 2026, the Lianyungang Huai'an section of the Lianyungang Yizheng crude oil pipeline project, a key national oil and gas infrastructure project, was successfully put into operation. This is the first 10 million ton crude oil pipeline put into operation at the beginning of China's 15th Five Year Plan, which is of great significance for optimizing the energy supply structure in the central and eastern regions of China and improving the national oil and gas network layout.Editor/Gong Ziwei