[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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• 2026.02.05 10:14
• [Implementation of the new policy for localizing Tanzania's mining industry]
• In 2026, Tanzania's new mining policy officially came into effect, requiring that 20 key mining materials must be provided by local enterprises. The authorities have launched the construction of 21 manufacturing factories at the abandoned Buz Waji gold mine site, gradually replacing imports. This measure forces international suppliers to change their original pure export model, and Chinese enterprises need to turn to local production and supply through technology joint ventures and other means to cope with supply chain restructuring.Editor/Gao Xue

• 2026.02.05 10:12
• [The above ground engineering of high-end chemical projects will start construction]
• In 2026, Tianjin Xinhecheng High end Chemical New Materials Project made key progress. The project is located in Nangang Industrial Zone, with a total investment of about 10 billion yuan, and will construct a full industry chain production line for adiponitrile, hexamethylenediamine, and nylon 66. At present, the first phase of the project's above ground engineering has obtained construction permits and is ready for full commencement. It is expected to be completed and put into operation in 2027, and the products will be widely used in fields such as automobiles and new energy.Editor/Gao Xue