16:40 2023.09.21

Total Energy launches green hydrogen tender

Total Energy plans to supply 500,000 tonnes of green hydrogen per year to its six European refineries (and two biofuels refineries) by 2030 to replace the grey hydrogen currently used in these plants. The above green hydrogen requires about 5GW of electrolyzers and 10GW of dedicated renewable energy, with an investment of about 14 billion euros. The move is part of Total Energy's plan to reduce greenhouse gas emissions from its oil and gas operations by 40% by 2030. Grey hydrogen, currently produced from Total Energy's undiluted natural gas, is currently used for the desulfurization of crude oil in refineries and for the production of diesel and aircraft fuel through a hydrocracking process. Total Energy's conventional refineries are located in Normandy in northern France, Donge in the northwest, Fezien in the east, Antwerp in Belgium, Zeeland in the Netherlands and Lerner in eastern Germany. Total Energy's only biofuel refinery is located in La Mede, southern France, near Marseille, and can produce 500,000 tons of biodiesel per year. Total's hydrogen from the tender will also supply a biofuel plant in Grandpuits, near Paris, which will begin operations in 2025 and produce sustainable aviation fuel, renewable diesel and renewable naphthalene. Editor/Xu Shengpeng

16:40 2023.09.21

LG New Energy raises $1 billion through green bond issue

September 20, according to foreign media reports, on Tuesday, South Korean battery manufacturer LG New Energy successfully issued a $1 billion global green bond, which marks the company's first entry into the global green bond market. Green bonds are bonds that specifically fund industries and projects that address climate change, including batteries that are alternatives to fossil fuels. The $1 billion green bond consists of a $400 million three-year bond and a $600 million five-year bond, the company said. The company plans to use the funds to grow its international battery and renewable energy projects, including its ongoing projects in the United States. LG New Energy is a new company spun off from LG Chem in December 2020 to specialize in the battery business, and its customers include Tesla, General Motors and Volkswagen. Currently, the company has seven battery plants in operation or under construction in the United States, where it is focusing most of its resources to expand capacity. The company aims to expand its product portfolio through determined investments to include not only electric vehicle batteries, but also energy storage systems (ESS) and other products. Editor/Xu Shengpeng

16:56 2023.09.19

Ørsted is developing 400MW of new solar power in Ireland

Irish energy developer Terra Solar has partnered with Danish renewable energy company Ørsted to develop a new portfolio of 400MW solar power projects in Ireland. While the companies did not specify where in Ireland the projects would be built, Ørsted noted that they are expected to come online by 2030. The company also noted that it still needs to make some decisions about the portfolio, including how and to whom it will build to sell power. Following the signing of two separate agreements with Terra Solar in recent years, the company will increase its Irish solar project portfolio to 600MW with this transaction. In August 2022, Ørsted acquired Terra Solar's 65MW Ballinrea project in Cork City, which is expected to come online in 2025. In March this year, Ørsted also acquired Terra Solar's 160MW Garrenleen project, which will become commercially operational in two phases, with Ørsted looking to expand its footprint into the Irish solar industry, with one to take place in 2025 and the other in 2026. Editor/Xu Shengpeng

17:16 2023.09.15

Ukraine will build a 1GW wind farm in the Chernobyl exclusion zone

The Ukrainian government has agreed with German Energy company Notus Energy to build a wind farm in the Chernobyl Exclusion Zone (CEZ). The two sides have signed a memorandum of cooperation to build a wind farm with a capacity of up to 1GW, enough to meet the electricity needs of about 800,000 homes. CEZ, located about 130 kilometers north of Kiev, has been largely abandoned since the 1986 Chernobyl nuclear disaster. Details of the size of the facility have not been released, but the CEZ covers an area with a radius of about 30 kilometers. Ukraine's Ministry of Environment Protection and Natural Resources said the development project will contribute to the country's energy independence and create new jobs in the region. Editor/Xu Shengpeng

17:14 2023.09.13

Italy in the first half of 2023 photovoltaic installed capacity of 2.3GW

According to data released by the Italian Photovoltaic Association, the installed capacity of photovoltaic systems installed in Italy in the first half of 2023 was 2.3GW, an increase of about 12% compared to the same period in 2022. By the end of March 2023, the cumulative installed capacity of photovoltaic systems in the country reached 27.4GW. About 47% of the PV systems added in Italy in the first half of 2023 came from residential PV systems, with recent growth driven by the commercial and industrial sector (C&I) and utility-scale PV projects with an installed capacity of more than 1MW. Grid-connection of PV systems over 1MW, which had stalled since July 2022, resumed in the second quarter of 2023. Specifically, two 10MW PV plants in Piedmont and Puglia and a 36MW PV plant in Sardinia have been connected to the grid. Editor/Xu Shengpeng

17:14 2023.09.13

India ramps up coal to fill power supply gap

In the case of local renewable energy development far less than expected, India has once again chosen to increase the use of coal power, and the industry is widely expected that the country's greenhouse gas emissions will hit a new record. Recently, the Indian government announced that it has extended the time limit for the mixed use of imported coal, requiring all coal power plants to continue to import coal until March next year, and increase the level of coal stocks while safeguarding local power supply. With the impact of extreme dry weather exceeding expectations, India's electricity demand peaked in August 2023, and in the case of local renewable energy development far less than expected, India once again chose to increase the use of coal power, and the industry is widely expected that the country's greenhouse gas emissions will hit a new high. In the past two years, although the Indian government said it strongly supports the development of renewable energy, in fact, the installed growth rate of renewable energy is far less than expected, and the new installed capacity of wind power generation needs to more than double every year to meet the established development goals. More data show that as of August 2023, India's renewable energy generation has only increased by 16 billion KWH, accounting for less than 15% of the total increase in power generation. Editor/Xu Shengpeng

17:46 2023.09.07

Vietnam recently announced a number of energy and mineral sector plans

Since July 2023, the Vietnamese government has announced three energy and mineral sector plans, including: Vietnam's National Oil and Gas Reserve and Supply Infrastructure Plan 2021-2030 and Vision 2050, Vietnam's Mineral Exploration, Exploitation, Processing and Use Plan 2021-2030 and Vision 2050, and Vietnam's National Energy Master Plan 2021-2030 and Vision 2050. The Plan for Vietnam's National Oil and Gas Reserves and Supply Infrastructure from 2021 to 2030 and the Vision for 2050 aims to ensure national energy security, synchronously and rationally allocate various energy sources, and gradually form a diversified development pattern of energy sources. Encourage and create all favourable conditions for the participation of various economic sectors in energy development; Apply the results of scientific and technological development to all segments of energy development; To use energy economically and efficiently; Promote the coordinated development of various segments of the energy industry, promote the synchronous and intelligent development of infrastructure, reach the regional advanced level, and conform to the world's scientific and technological development trend; The successful implementation of the energy transition will make an important contribution to the goal of net-zero emissions by 2050. Editor/Xu Shengpeng

17:46 2023.09.07

Belgian and Canadian companies plan to cooperate on new nuclear power projects

Belgian engineering company Tractebel and Canadian engineering, project management and professional services firm Hatch have partnered to support the deployment of small and large scale nuclear technologies in North America and Europe. Together, the two companies will provide expertise in nuclear engineering and nuclear project consulting to ensure the continuity of teams of experts working on new build nuclear projects in North America and Europe. Tractebel has more than 60 years of nuclear engineering experience covering the entire life cycle of nuclear facilities, from design to decommissioning, as well as industrial applications. The company has been working with EDF on the Nuward small reactor project since 2021. Hatch, which provides engineering, consulting, technical and equipment design services, has been involved in supporting the development and evaluation of small reactors for on-grid or off-grid power generation since 2012. Editor/Xu Shengpeng

16:58 2023.08.30

MGen Philippines to build renewable energy projects

Meralco PowerGen Corp. (MGen), the power generation arm of Manila Electric Company (Meralco) in the Philippines, will invest no less than PHP18 billion (US $317 million) to accelerate the expansion of its renewable energy installations, including energy storage battery projects. MGen said the investment is part of the company's long-term sustainability strategy "One Meralco" and will involve more than 2,000MW of photovoltaic and wind renewable energy projects, which are planned to be completed by 2030. MGen said it will continue to evaluate and develop additional renewable energy projects to meet the carbon neutrality goal of One Meralco's strategy to achieve coal-free power generation by 2050. Editor/Xu Shengpeng

17:20 2023.08.28

4 hydropower projects approved in Nepal

Four hydropower projects (Rolwaling Khola, Chujung Khola, Dana Khola, Saniveri) were approved at the 55th meeting of the Investment Committee chaired by Prime Minister and Chairman of the Investment Committee Prachanda. The meeting decided to set up a high-level committee to review the progress of the implementation of the hydropower project in Tamor Reservoir, and also decided to issue a study license to Dolma Himalayan Energy to study the 245 MW solar project and 20 MW battery capacity in Dang district. The Prime Minister directed all relevant agencies to conduct more studies and analyses so that the engineering costs of future hydropower projects can be affordable, and to strengthen the necessary coordination to ensure that ongoing projects are completed on time and with a focus on results orientation. Editor/Xu Shengpeng

16:54 2023.08.24

Russia and Hungary have signed a contract to build nuclear power plants

Russian atomic energy company Rosatom on Friday signed a contract with Hungarian representatives to start construction of two units for the Paks-2 nuclear power plant. "The transition to the direct construction phase gives us the green light to start production of the main power equipment," said Alexander Merten of Rosatom after signing the agreement with Paks Managing director Gergely Jakli in Budapest. Gergely Gulyas, director of the office of Prime Minister Viktor Orban, said the Paks-2 mission was important for Hungary as well as neighboring EU countries, adding that construction work must begin next spring. Located nearly 100 kilometers from Budapest, Paks is Hungary's only nuclear power plant, with four Soviet-made VVR-440 units that supply nearly half of the country's electricity. It also said that the two recent VVR-1200 units will double the size of the plant, which the government has been looking to do in order to improve Hungary's energy adequacy. Editor/Xu Shengpeng

16:58 2023.08.22

Walmart pushes to build Latin America's first green hydrogen plant

The new hydrogen project will play a key role in Walmart Chile's path to net zero emissions. As part of its ongoing commitment to and investment in renewable energy, Walmart partnered with power generation company Engie to open a green hydrogen plant at the discount retailer Quilicura distribution center in Santiago, Chile. This is the first green hydrogen plant for industrial use in Latin America. This industrial-scale renewable green hydrogen plant will play a key role in Walmart's global commitment to become a renewable and net-zero emissions company by 2040. The plant marks a $15 million investment to replace lead-acid batteries on forklifts. In its first phase, the Green Hydrogen Plant is expected to replace the lead-acid batteries on 200 forklifts at the Quilicula distribution center with hydrogen fuel cells, reducing toxic waste by 250 tons per year. Over the course of the 15-year project, Walmart expects to reduce 17,100 tons of carbon dioxide emissions into the atmosphere, which the company says is the equivalent of planting 34,200 trees. The green hydrogen plant is an important part of Walmart's and Chile's clean energy goals. "Walmart first embraced the potential of hydrogen in 2012 with 50 hydrogen-powered cars and forklifts in the U.S., and our fleet has since grown to more than 9,500 hydrogen-powered forklifts," the company said. Walmart CEO Doug McMillon. "Now, with more than a decade of experience and progress, Walmart is in a position to invest in Chile's potential as a producer of clean energy, including green hydrogen." Editor/Xu Shengpeng

16:58 2023.08.22

Brazil plans to build $30 billion in low-carbon hydrocarbon production projects

Brazil is studying about $30 billion in low-carbon gas production projects, an official from the Ministry of Mines and Energy said last Wednesday, estimating the country's potential output at 1.8 billion tons. Thiago Barral, the South American country's dynamic energy transition planning minister, said at an event that the potential would come from renewable energy sources such as wind and solar, as well as carbon capture from fossil fuel emissions. As the world increasingly focuses on clean energy solutions, Brazil's commitment to this sustainability effort will make waves around the globe. Low hydrocarbon, often referred to as green hydrogen, is rapidly gaining traction as a promising alternative to conventional fossil fuels. This versatile fuel comes from renewable sources such as wind and solar power. The result is a fuel with the least carbon emissions, positioning it as a frontrunner in the pursuit of decarbonisation and the energy transition. Editor/Xu Shengpeng

10:59 2023.08.22

Bahrain Steel and Essar Group Sign Green Steel Project Supply Agreement

Recently, Bahraine Steel, a subsidiary of Bahrain Foulath Group, signed an intention agreement with Essar Group to provide iron ore pellets for its Saudi green steel project. Bahrain Steel is the only pellet producer under the GCC and will provide 4 million tons of DR grade pellets annually for the Essar Green Steel (GSA) project. Essar is considering investing approximately $4.5 billion to build a comprehensive steel plant in Ras Al Khair, Saudi Arabia. The intention agreement signed this time will guarantee 50% of the raw material supply for the iron ore pellets of the project, which is expected to be put into operation in 2027. The GSA project will be the first green steel project in the region, with an annual production capacity of 5 million tons of direct reduced iron (DRI), and an annual production capacity of 4 million tons for hot rolling and 1 million tons for cold rolling, respectively. Editor/Ma Xue

10:21 2023.08.21

Mozambique Nampula Cement Plant Project Commences

Recently, a groundbreaking ceremony was held for the Nampula Cement Plant project, a national key project in Mozambique undertaken by China Railway 20th Bureau Mozambique Company. This project is a national key project in Mozambique, located in the Nacala region of Nampula Province, covering an area of 650000 square meters. It includes construction tasks such as clinker cement production line and related supporting facilities, and is expected to be completed by 2025. This project can provide at least 2000 job opportunities for the local population and its surrounding areas, greatly alleviating the shortage of local cement supply and assisting in Mozambique's infrastructure construction and livelihood improvement. Editor/Ma Xue

10:10 2023.08.18

China Construction Bank signed an agreement in the South African market

Recently, China Construction Bank's Johannesburg Branch and South Africa's Kuha Development Company held a memorandum of cooperation signing ceremony in Johannesburg, aiming to promote economic and trade exchanges and cooperation between China and South Africa. Luo Meiwei, President of China Construction Bank's Yuebao Branch, stated that China Construction Bank can provide financial services including "matchmaking" for enterprises in the park, jointly improve the level of infrastructure construction in the park, and fulfill the social responsibility of Chinese enterprises in South China through practical actions. Tia, CEO of Kuha Development Company, stated that the signing of the memorandum of cooperation is of milestone significance for the in-depth economic and trade exchanges between South China and China. He hopes to utilize the advanced platform and efficiency of Chinese enterprises to better promote bilateral economic and trade cooperation and exchange, enrich the content of BRICS cooperation, and ultimately benefit the relationship between South China and China. Editor/Ma Xue

09:36 2023.08.17

Middling coal won the bid for Namibia Usakos Highway Project

Recently, the Namibian Office of middling coal in Jiangxi Province won the bid for the upgrading and reconstruction project of the Osakos Kalibib Highway, with a winning amount of about 147 million yuan and a planned construction period of 18 months. The total length of the project route is 30.04 kilometers, and the main construction content is to repair and strengthen the existing road surface and bridges. After the completion of the project, it will effectively improve local transportation hardware facilities and promote regional economic development. The winning of the project has further enhanced the brand effect and market share of middling coal in Namibia, which is of great significance to the company's steady operation in Namibia. At present, the preliminary preparation work for the project is proceeding in an orderly manner. Editor/Ma Xue

09:36 2023.08.17

Jiangxi International Winning the Bid for Mozambique Cement Plant Project

Recently, Mozambique Cement Company officially awarded the renovation and expansion project of Mozambique's Nacala Cement Plant to China Jiangxi International Company. The main construction content of this project is to renovate and expand the existing operating cement factory, including the demolition of some concrete structures, the construction and renovation of some auxiliary facilities, and the expansion of the existing cement production line to a daily output of 3000 tons of clinker cement production line, with a construction period of 8 months. Mozambique Cement Company is the earliest cement company established in Mozambique. It has a comprehensive cement clinker factory in the capital city of Maputo and operates four grinding stations nationwide, covering the entire market of Mozambique. The winning bid of this project will further consolidate and enhance the company's competitiveness in the Mozambique market, laying a favorable foundation for future expansion in related business areas. Editor/Ma Xue

09:02 2023.08.17

SINOMACH won the bid for the Indonesian engineering project

Recently, SINOMACH successfully won the bid for the construction and installation project of the coal coke storage yard of Xuyang Weishan New Energy (Indonesia) Co., Ltd. After the completion of the project, it will provide strong technical and data support for Indonesia's research in the field of coking coal, while also effectively driving local upstream and downstream enterprises and promoting social and economic development. The project is located in Qingshan Industrial Park, Central Sulawesi Province, Indonesia. China Machinery Industry Fifth Construction Co., Ltd., a subsidiary of the group, will be responsible for the construction of the coke shed, transfer station, and trestle building structure engineering, as well as the installation and construction of the coke shed material yard equipment, 1 # and 2 # transformer and distribution equipment, and related auxiliary distribution systems. Editor/Ma Xue

16:59 2023.08.15

The Ministry of Transport will soon invest in 64 transport construction projects

According to the Construction Investment Authority of the Ministry of Transport of Vietnam, according to the medium-term public investment plan for the period 2021-2025, the Ministry of Transport will invest in 64 transport projects. Specifically, investment proposals for 60 of the 64 projects have been approved; Four unapproved projects are continuing to go through investment procedures in accordance with the regulations, including: connecting Ha Giang Province with the first phase of the Neipai - Lao Jie Expressway project; Multiple bridge and tunnel expansion projects on National Highway 1A; Laojie Railway Station and China Yunnan Hekou North Railway Station railway connection line project; Three highways (53, 62 and 91B) upgrading projects in the Jiulong River Delta region. In addition, 43 investment projects have been approved and 31 projects have been started, with a total investment of 255 trillion VND (10.95 billion US dollars). Twelve projects are actively completing related work, and construction is expected to start in 2023. Editor/Xu Shengpeng

16:58 2023.08.15

The Czech Energy Group plans to build several large-scale photovoltaic projects

The Czech National Energy Group plans to build several large-scale photovoltaic projects, and it is expected that by 2025, the total capacity of new photovoltaic power plants will reach 1,500 megawatts, and by 2030, the figure will increase to 6,000 megawatts. The first planned PV plants include a power plant with a total installed capacity of 87.65 MW in Usti region, a power plant with a total capacity of 243 MW in Tushimice and a large PV plant with a capacity of 4.3 MW in Libereco. In addition, the Czech National Energy Group will build solar parks and carry out other renewable energy projects in Central and Western European countries. For example, the completion of wind power plants in France and Germany, and the preparation of photovoltaic projects in Western Europe. According to statistics, by the end of 2022, the installed capacity of photovoltaic power plants operated by the Czech National Energy Group was 127 megawatts. Editor/Xu Shengpeng

17:37 2023.08.14

Vietnam's Ministry of Transport will soon invest in 64 transport projects

According to the Construction Investment Authority of the Ministry of Transport of Vietnam, according to the medium-term public investment plan for the period 2021-2025, the Ministry of Transport will invest in 64 transport projects. Specifically, investment proposals for 60 of the 64 projects have been approved; Four unapproved projects are continuing to go through investment procedures in accordance with the regulations, including: connecting Ha Giang Province with the first phase of the Neipai - Lao Jie Expressway project; Multiple bridge and tunnel expansion projects on National Highway 1A; Laojie Railway Station and China Yunnan Hekou North Railway Station railway connection line project; Three highways (53, 62 and 91B) upgrading projects in the Jiulong River Delta region. Editor/Xu Shengpeng

09:46 2023.08.14

Solomon Islands Broadband Infrastructure Project Commences

Recently, the Solomon Islands broadband infrastructure project undertaken by China Harbour was inaugurated. Prime Minister Sogavare stated in his speech that the implementation of the project meets the needs of the government to improve the country's social and economic development. The project will contribute to improving labor productivity, promoting education, health, and national civilization in the society.Ambassador Li Ming stated in his speech that the completion of the project will greatly improve Solomon's national network communication level and provide new opportunities for practical cooperation between China and the Institute. He hopes that the project can help 700000 people scattered across hundreds of islands achieve connectivity and promote economic and social development. The project plans to build a total of 161 3G/4G base stations in nine provinces of the Solomon Islands, including microwave and solar products, as well as tower construction, equipment installation, technical training, maintenance and other services. After completion, the project will be integ

08:20 2023.08.14

Siemens Signed 25GW Green Hydrogen Project

Recently, global technology giant Siemens and Verano Energy signed a memorandum of understanding to develop the "Los Amigos del Verano" green hydrogen production comprehensive project in Chile. It is reported that the total investment of the green hydrogen project is about 2.9 billion US dollars, and the project capacity reaches 25GW. The Los Amigos del Verano Green Hydrogen Complex project is located in the Antofagasta region of Chile and is planned to be constructed in four phases. The first, second, and third phases each include 2 hydrogen production units, each with a production capacity of 2.5GW; The fourth phase includes four hydrogen production units, with a single hydrogen production unit capacity of 2.5GW, ultimately resulting in a total production capacity of 25GW. The project is scheduled to commence construction in 2025, with the first phase expected to be put into operation in 2027 and all projects expected to be put into operation in 2033. Once completed, the project will become a milestone in the local sustainable energy development process. Editor/Ma Xue

08:19 2023.08.14

Tata Power plans to develop 2 pumping and storage projects

Recently, Tata Power Company, headquartered in India, signed a memorandum of understanding with the government of Maharashtra to develop two pumped storage projects in India, with a total capacity of 2.8GW. The proposed clean energy project is estimated to require approximately $1.6 billion in investment. It is reported that Tata Power has already operated three hydropower projects in the West Gaozhi Mountains, with a total capacity of 693MW, including Khopoli Hydropower Station, Bhivpuri Hydropower Station, and Bhira Hydropower Station, including a 150MW pumped storage hydropower station. The projects are all located in the state of Maharashtra. Editor/Ma Xue

17:14 2023.08.11

Egypt claims a total renewable energy potential of 1TW

Egypt is one of the largest photovoltaic markets in Africa, with abundant sunlight resources and vast land. In recent years, the Egyptian government has been actively promoting the development of the solar photovoltaic industry. Egypt aims to generate 42% of its electricity from renewable sources by 2030 and 60% of its electricity by 2040. Egypt's renewable energy production accounts for 29.6% of the total energy mix, reaching a peak of about 10GW in 2022. Statista reports that Egypt's total renewable energy capacity reached 6,322MW by the end of 2022, an increase of about 1% over the previous year. According to third-party forecasts, Egypt's renewable power generation capacity is expected to increase from 3.51GW in 2020 to 13.7GW in 2030, with a compound annual growth rate (CAGR) of 14.6%. In order to promote the development of the photovoltaic market, the Egyptian government has also introduced a series of preferential policies, such as providing land, tax deductions, and preferential power purchase. Editor/Xu Shengpeng

17:13 2023.08.11

CMEC signs the first EPC general Contract project in Uganda!

Recently, the National Machinery Engineering Group Headquarters (China Group), as the lead party of the consortium, successfully signed the EPC contract with the Uganda Transmission Company (UETCL) for the "Uganda capital Kampala Urban Power Transmission and transformation Project (Section 1 and Section 2)". The project, financed by the Japan International Cooperation Agency (JICA), is CMEC's first EPC general contract in Uganda. The completion of the project will greatly help the Ugandan capital to accelerate the grid improvement process. The signing of this contract highlights CMEC's strength in the field of power energy, shows CMEC's determination to deepen the East African market, and lays a good foundation for further development of the East African market. Editor/Xu Shengpeng

15:04 2023.08.11

EVE Malaysia Battery Factory Starts Construction

Recently, the groundbreaking ceremony for EVE Malaysia factory was successfully held. EVE Malaysia Factory and Yiwei Lithium Energy's 53rd Factory are building an "International Cylindrical Battery Industry Park" project with an investment of no more than $422.3 million. It is located in Julin County, Kedah Oblast, Malaysia. After completion, it mainly produces cylindrical batteries, directly driving employment of 600 people. The project mainly produces 21700 cylindrical batteries for electric tools and electric two wheeled vehicles. At present, EVE has the production capacity and technical reserves for this type of product, and will further expand its production and supply capacity to fully meet the product needs of downstream customers, ensuring that EVE products always focus on industry advantageous products, and assisting in the application of more cost-effective 21700 batteries for electric two wheeled vehicles and electric tools, strengthening EVE's leading position in the field of cylindrical batteries. Editor/Ma Xue

15:03 2023.08.11

Xinwanda's First European Factory Landed in Hungary

Xinwanda Electronics Co., Ltd. recently announced that in order to further deepen its global strategic layout, Xinwanda subsidiary Xinwanda Power Technology Co., Ltd., through its subsidiary Hungary Xinwanda Power Technology Co., Ltd., has invested approximately 1.9 billion yuan in Hungary to build the first phase of a new energy vehicle power battery factory, mainly engaged in the manufacturing and sales of lithium-ion batteries and power battery systems. Xinwanda stated that Hungary has become the preferred location for Xinwanda's own factories in Europe, mainly due to its long history in the development of the Hungarian automotive industry, which has gathered a large number of complete vehicle enterprises, and its hub position in central Europe, making it easy for Xinwanda to quickly respond to customer needs and complete localized production. Editor/Ma Xue

09:31 2023.08.11

Oman signs Shinas Port Development Framework Agreement

Recently, the Oman Ministry of Transport, Communications, and Information Technology signed a framework agreement with the QSS Maritime consortium, covering the development, management, and operation of Shinas Port located on the north coast of Batinai in Oman. The agreement is implemented in three stages: the first stage involves the establishment of a transfer and takeover committee for port business; The second phase of the port will be put into operation in November this year. At this stage, the QSS Maritime consortium will develop a commercial and marketing plan as well as a new overall plan for the port within 8 months. In the final stage, both parties will negotiate and sign a long-term agreement for the development, management, and operation of the port for a period of 30 years. The Ministry of Transport, Communications, and Information Technology stated that the agreement fully aligns with its strategy of "attracting foreign investment, promoting international partnerships, and collaborating with local entities specializing in port and terminal management and operations". Editor/Ma Xue