Oman’s Jindal Shadeed Group to Invest $3bn to Produce Green Steel at Duqm

Oman’s Jindal Shadeed Group to Invest $3bn to Produce Green Steel at Duqm

Jindal Shadeed Group, Oman announced that it has selected the Special Economic Zone at Duqm (SEZAD) in the Sultanate of Oman to establish a manufacturing facility. Slated to be the largest of its kind within the zone to produce green steel, the factory will also utilize renewable energy sources in its manufacturing operations.

This announcement was made at a ceremony that included the signing of a Memorandum of Understanding and a land allocation agreement.

The event was held under the auspices of Dr. Ali bin Masoud Al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ) in the presence of high-ranking government and private sector officials as well as prominent local and international media.

The MoU was signed by Eng. Ahmed bin Hassan Al Dheeb, Deputy Chairman of OPAZ, and Harssha Shetty, CEO of Jindal Shadeed Group. The land reservation agreement was signed by the Jindal Shadeed Group and Reggy Vermeulen, Chief Executive Officer of Port of Duqm.

In line with its development efforts, Jindal Shadeed Group also signed an MoU with the centralised utility provider (Marafiq), to provide the plant with the utilities necessary to operate the project such as water services, seawater for cooling purposes, and other