RIYADH: On a macro level, Egypt is preparing to set up a new area for crude oil storage located in the south of Cairo.
Zooming in, a Dutch startup has kicked off sales of the world’s first solar electric car today.
Looking at the bigger picture:
Egypt is planning to set up a new $96 million area for crude oil storage in El-Tebbin south of Cairo, Reuters reported citing the petroleum ministry.
The new project aims to receive crude from the Red Sea's Ain Sokhna terminal and pump it to upper Egypt.
Through a micro lens:
Dutch startup Lightyear has kicked off sales of the world’s first solar electric car, valued at $265,000.
To be made in Finland, the car will allow two months of driving without charging in Amsterdam during summer and as many as seven months in Portugal, Bloomberg reported.
India’s solar glass maker Borosil is planning to more than a five-fold jump in production amid expectations that increasing global fuel prices will speed up the shift to renewables, according to Bloomberg.
It currently produces around 450 tons of solar glass per day and plans to expand output to 2,500 tons a day.
