Brazilian iron ore producer Vale has signed agreements with Oman-based Port of Duqm Company and power and water utility company Marafiq to establish an integrated industrial complex for green steel in the Special Economic Zone at Duqm, according to media reports.
The complex, which will use clean energy and green hydrogen, will produce hot briquette iron and other low-carbon steel products.
The location selected for the complex has an advantage with its proximity to large regional markets including India, Africa and GCC countries.
In addition, the company signed a memorandum of understanding with Oman-based Oman Rail Company and the UAE-based Etihad Rail Company to use UAE-Oman Rail Network for its iron ore and pellet transportation, as SteelOrbis previously reported.