Jindal Shadeed to invest $4bln in new ‘green steel’ projects in Oman

Jindal Shadeed to invest $4bln in new ‘green steel’ projects in Oman

MUSCAT: Jindal Shadeed Iron & Steel (JSIS), which owns and operates the largest integrated steel complex at Sohar Port, has unveiled plans to invest over $4 billion in a portfolio of projects aimed at positioning the company, as well as the Sultanate of Oman, among the leading producers of green steel globally.

It includes initiatives to establish an integrated steel plant in the Special Economic Zone (SEZ) in Duqm complete with renewable and hydrogen powered components to enable the production of green steel in the largest such venture in the GCC.

“JSIS’s plan is to collaborate with the Government of Oman and create a renewable power-driven hydrogen ecosystem in Duqm – initiatives to lead FDI investments from the various participants in the Hydrogen Economy value chain,” said a company official in a recent presentation to a gathering of investment and energy sector executives in Muscat.

At Duqm SEZ, Jindal Shadeed intends to set up a 4.5 million tonnes per annum (MTPA) capacity integrated steel mill for the production of a range of green steel products at a capex of around $2.4 billion. Anchored by a 6 MTPA pelletising plant, the mega project will be integrated with a 2.25 MTPA Direct Reduction Iron (DRI)