Jindal Steel Oman has signed an agreement with the industrial city of Sohar, Oman, to develop an integrated steel plant, entailing an investment of $390 million, industry circles told SteelOrbis on Tuesday, May 27.
The agreement, signed with the Government Authority for Industrial Estates (Madayn), aims to strengthen local supplies of construction materials steel, infrastructure and manufacturing, and to explore export opportunities.
The project is understood to be linked to the recent acquisition of Moon Iron and Steel (MISCO), also based in Sohar, by Jindal Steel Oman.
MISCO has halted production in 2023 at its 1.2 million tonne steel plant. producing rolled products.
Jindal Steel Oman, formerly known as Jindal Shaheed Iron and Steel, is part of the Indian O.
P. Jindal, which controls the Indian steel operations of Jindal Steel limited.
Jindal Steel Oman's key business units include direct reduced iron (DRI) facilities, rebar, a 6 million tonne pellet plant and plans to build a $3 billion green hydrogen steel plant led by Vulcan Green Steel.
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