Jindal Group acquires Sohar Steel after three years of hiatus

Jindal Group acquires Sohar Steel after three years of hiatus

Muscat – Jindal Group and Vulcan Investments, an industrial conglomerate based in Oman, successfully completed the acquisition of Sohar Steel after an extensive and notable three-year hiatus. This achievement serves as a pivotal juncture in the steel industry, highlighting Jindal Group’s persistence to fostering social sustainability and economic growth, supporting the nation and promoting economic diversification. “The successful acquisition of Sohar Steel represents an extraordinary stride forward for Jindal Group, cementing our position as a prominent leader in the steel industry,” said Harssha Shetty, a senior official from the Jindal Group Oman, expressing “deepest gratitude” to H E Qais Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion; and the members of the Competition Protection and Monopoly Prevention Centre (CPMPC) for “their invaluable support and cooperation in approving the acquisition of Sohar Steel”. “Their dedication and commitment to ensuring fair practices have played a pivotal role in making this landmark deal a reality,” Shetty acknowledged. Strategically located in Oman adjacent to the seaport of Sohar, Sohar Steel, will play a vital role in propelling industrial development and fortifying the sultanate’s infrastructure. Boasting state-of-the-art facilities, including the Bendotti Walking Beam Reheating Furnace and Automatic Tension Control, the plant possesses a