DUBAI: The company behind Saudi Arabia’s $500 billion NEOM megacity project on Thursday revealed plans to develop an assembly plant to build up to 10,000 hydrogen fuel cell-powered commercial vehicles a year.
The initiative is part of an agreement between US-based Hyzon Motors, an expert in the supply of zero-emission hydrogen fuel cell-powered commercial vehicles, and Saudi conglomerate Modern Industrial Investment Holding Group.
The trio will work together over the next 18 months to finalize plans and specifications for the new facility.
As part of the linkup, the partners plan to set up a new joint venture company – Hyzon Motors Middle East (ME) – which will focus on completing the project and distributing the Hyzon-branded zero-emission commercial vehicles throughout Saudi Arabia and the wider region.
QINGDAO, China (Reuters): Chinese officials were waiting for better weather before deciding whether to siphon off the remaining cargo from a stricken tanker after hundreds of tonnes of oil spilled into the Yellow Sea after a collision in dense fog two days ago.
Work to siphon off the remaining cargo from a stricken tanker was expected to commence on Friday, the vessel's manager said on Thursday, two days after hundreds of tonnes of oil spilled into the Yellow Sea following a collision in dense fog.
CAIRO: Egypt’s National Railways Industry Company has signed an agreement with South Korea’s Hyundai Rotem to modernize Cairo’s metro system.
The signing ceremony was attended by Egyptian Minister of Transport Kamel El-Wazir, Minister of Planning and Economic Development Hala El-Saeed, South Korean Ambassador to Egypt Hong Jin-Wook and chairman of the National Authority for Tunnels Essam Wali.
El-Wazir said that the agreement will include the manufacturing of more than 800 metro cars and the supply of new lines, which comes as part of the modernization of the first and second Cairo metro lines.
He added that under the first phase of the agreement, local components will make up 29.9 percent of metro cars in the first two years, rising to 50 percent in the following couple of years, and then jumping to 75 percent after six years.