Manufacturing Omani firm to invest over $4bn to produce green steel By Pramod Kumar December 1, 2022, 6:59 AM Unsplash.com 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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Aviation Riyadh Air delays launch after Boeing setbacks Riyadh Air has been forced to push back its launch date to the third quarter of 2025 after delays to deliveries from Boeing. The new Saudi airline had been scheduled to begin flying early this year. It is a blow to Saudi Arabia’s tourism ambitions to attract 150 million visits a year. Riyadh Air was founded […] 2 days ago
Tech KKR signs a $5bn Gulf data centre deal in Dubai KKR, the American investment giant, and the data centre platform Gulf Data Hub (GDH), based in Dubai, have signed a strategic partnership to invest $5 billion in data centres serving the Gulf. A joint press release on Friday said that funds “affiliated with KKR” will also acquire a stake in GDH, although it did not […] 2 days ago
