Oman-based steelmaker Jindal Shadeed Iron & Steel will invest more than $3 billion to build a green steel plant in the country, according to media reports.
The plant, which will use renewable energy in its manufacturing operations, will have an annual production capacity of five million mt of high-quality steel products. The plant will serve automobile, wind energy and consumer durables sectors across Europe, Japan and the Middle East.
The new plant is scheduled to be completed by 2026.
The company currently has a steel plant with an annual production capacity of 2.4 million mt in Oman.
