Jindal Shadeed Group to invest $3bln

Jindal Shadeed Group to invest $3bln

Muscat - Jindal Shadeed Group, a pioneer in the steel industry, announced that it has selected the Special Economic Zone at Duqm (SEZAD) in the Sultanate of Oman to established 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 His Excellency Dr. Ali bin Masoud Al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ) and included the presence of a number of high-ranking government and private sector officials as well as prominent local and international media.

The Special Economic Zone at Duqm (SEZAD) is the largest economic zone in the Middle East, with an area of 2,000 square kilometers. This strategic project is being built over an area estimated at approximately 2 square kilometers in the concession zone at the Port of Duqm with an investment value estimated at 3 billion USD.

The MoU was signed by His Excellency Eng. Ahmed bin Hassan Al Dheeb, Deputy Chairman