Jindal Steel Oman has signed an agreement with the industrial city of Sohar, Oman, to develop an integrated steel mill entailing an investment of $390 million, SteelOrbis learned from industry circles on Tuesday, May 27.
The agreement, signed with the State Authority for Industrial Zones (Madayn), is aimed at strengthening local supply of construction-grade steel, infrastructure, and manufacturing, together with exploring export opportunities.
The project, it is learnt, is linked to the recent acquisition of Moon Iron and Steel (MISCO), also located in Sohar, by Jindal Steel Oman.
MISCO had stopped production in 2023 at its 1.2 million mt steel mill producing rolled products.
Jindal Steel Oman, formerly known as Jindal Shaheed Iron and Steel, is part of India’s O.P. Jindal Group, which controls the Indian steelmaking operations of Jindal Steel Limited.
The key business units under Jindal Steel Oman include facilities for the production of direct reduced iron (DRI), rebar, a 6 million mt pelletization plant, and plans for a $3 billion green hydrogen-based steelmaking mill under Vulcan Green Steel.