Oman-based Atlas Steel plans to build an integrated steelmaking complex in Sohar Industrial City, investing more than OMR 112 million ($291 million). The project is designed to produce 720,000 metric tons of steel and roll 700,000 metric tons of rebar annually.
Atlas Steel’s investment is part of 28 agreements worth more than OMR 304 million ($790 million) signed under the supervision of Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ). Its project is the largest individual investment in the package.
The complex will cover about 440,000 square meters at a site operated by the state-owned Public Establishment for Industrial Estates (Madayn). It will include a melt shop with a 120-metric-ton electric arc furnace and a hot-rolling mill for rebar.
The facility will handle the full production chain, from steelmaking to finished rebar. Its main markets will be Oman’s construction, infrastructure and industrial sectors, with some output potentially supplied to Gulf Cooperation Council countries and other Middle Eastern markets. The project is backed by private investor Atlas Investment. The construction and commissioning schedules, as well as equipment suppliers, have not been disclosed.
Other agreements include a steel structures plant to be built by Al Nawras Industries in the Salalah Free Zone. The project represents an investment of OMR 19.25 million ($50.1 million) and will cover more than 22,000 square meters.
According to OPAZ, the agreements cover manufacturing, logistics, recycling, food production and commercial activities. Of the total investment, about OMR 147.6 million ($383.9 million) is allocated to industrial cities operated by Madayn, OMR 58.5 million ($152.1 million) to Sohar Free Zone, and OMR 55.08 million ($143.3 million) to the Special Economic Zone at Duqm. The authority said the investments are intended to expand manufacturing capacity, strengthen domestic supply chains and diversify the economy under Oman Vision 2040.
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