Oman-based steel producer Atlas Steel plans to invest more than OMR 112 million ($291 million) in an integrated steelmaking and rebar production complex at Sohar Industrial City in Oman, according to media reports. The planned facility will have an annual steelmaking capacity of 720,000 mt and a rebar rolling capacity of 700,000 mt.
The investment was announced as part of 28 investment agreements signed under the supervision of Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ), with a combined value exceeding OMR 304 million ($790 million). Atlas Steel's project represents the largest individual investment among the agreements.
New steel complex to include electric arc furnace and rebar rolling mill
The proposed steel complex will cover approximately 440,000 square meters at Sohar Industrial City, operated by the Public Establishment for Industrial Estates (Madayn). The facility will include a steel melt shop equipped with a 120 mt electric arc furnace (EAF), with an annual steelmaking capacity of 720,000 mt, and a hot rolling mill capable of producing approximately 700,000 mt of rebar per year.
The integrated facility will manufacture steel products from the melting stage through to finished rebar, primarily targeting Oman's construction, infrastructure and industrial sectors. Part of the output may also be supplied to export markets in the Gulf Cooperation Council (GCC) and the wider Middle East.
The project is backed by private investment interests through Atlas Investment. However, the construction start date, commissioning schedule and equipment suppliers have not been disclosed.
Oman announces additional steel-related investments
Alongside Atlas Steel's project, the investment agreements include a steel structures manufacturing facility to be developed by Al Nawras Industries in the Salalah Free Zone. The project involves an investment of OMR 19.25 million ($50.1 million) and will occupy more than 22,000 square meters.
According to OPAZ, the 28 agreements cover industrial manufacturing, logistics, recycling, food production and commercial activities across the country's industrial cities, special economic zones and free zones. Of the total investment, approximately OMR 147.6 million ($383.9 million) has been allocated to industrial cities operated by Madayn, while the Sohar Free Zone accounts for OMR 58.5 million ($152.1 million) and the Special Economic Zone at Duqm for OMR 55.08 million ($143.3 million).
The authority stated that the investments are intended to expand Oman's manufacturing capacity, strengthen domestic supply chains and support economic diversification under Oman Vision 2040.
