Jindal Shadeed Group – the largest steel manufacturer in Oman, announces $3 billion investment plans to build a green steel plant at the Special Economic Zone at Duqm (Sezad) in Oman.
The facility is expected to be completed by 2026, and will utilize green hydrogen to produce the steel. According to Harssha Shetty, chief executive officer of Jindal Shadeed Iron and Steel LLC, the company has the necessary approvals in place to secure land for a green hydrogen-ready project that can process 5 million tons of steel a year.
The plant will produce automotive products for consumer goods industries across Europe, Middle East and Japan.
“There is a booming demand for green steel from ESG-conscious customers around the world, especially in Europe and Asia, who have already committed to a significant reduction in Scope 3 emissions by 2030,” commented Harssha Shetty.