Oman Business: Jindal Shadeed plans $3bn mega green steel project at Duqm – Gulf Digital News

Oman Business: Jindal Shadeed plans $3bn mega green steel project at Duqm – Gulf Digital News

Jindal Shadeed Group, a pioneer in the steel industry, has selected the Special Economic Zone at Duqm (Sezad) in Oman to set up $3 billion mega green steel manufacturing facility to produce 5 million metric tonnes of green steel annually.

Slated to be the largest of its kind within the zone to produce green steel, the factory will also utilise renewable energy sources in its manufacturing operations.

The project will create over $800 million per annum in country value addition. The plant will supply high quality steel products to automobile, wind energy and consumer durables sector amongst others. There is a booming demand for green steel from ESG conscious customers around the world especially in Europe and Asia, who have already committed significant reduction in Scope 3 emissions by 2030.

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

Largest economic zone

The Special Economic Zone at Duqm (Sezad) is the largest economic zone in the Middle East, with an area of 2,000 sq km. This strategic project is being built over an area estimated at approximately 2 sq km in the concession zone at the Port of Duqm.

The MoU was signed by