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Omani firm to invest over $4bn to produce green steel

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The company’s expansion will allow it to introduce new product lines

Jindal Shadeed Iron & Steel, owner of a steel complex at Sohar Port, plans to invest over $4 billion in the production of green steel. 

The initiatives aim to establish an integrated steel plant – one of the largest plants in the GCC – in the special economic zone in Duqm, complete with renewable and hydrogen-powered components to produce green steel, Oman Daily Observer reported.

Jindal Shadeed plans to collaborate with the Omani government to create a renewable power-driven hydrogen ecosystem in Duqm, the newspaper reported, citing a company official.

The firm intends to set up a 4.5 million tonnes per annum capacity integrated steel mill to produce a range of green steel products at the cost of nearly $2.4 billion. The project will be powered by green energy and connected to a 600-megawatts solar plant.

In addition, a significant portion of Jindal Shadeed’s new investment plan is targetted towards the expansion and decarbonisation of its assets in Sohar Port.  

The company recently entered into a partnership with Germany’s Hydrogen Rise to enable the use of hydrogen in its energy mix by developing a green hydrogen plant in Sohar, the report said.

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