📋 Tender Overview
Scope of Work:
To Establish Green Steel Manufacturing Facility in Special Economic Zone at Duqm (SEZAD) in the Sultanate of Oman.
Description:
Jindal Shadeed Group, Oman has selected the Special Economic Zone at Duqm (SEZAD) in the Sultanate of Oman to establish a manufacturing facility. Slated to be the largest of its kind within the zone to produce green steel, the factory will also utilize renewable energy sources in its manufacturing operations.
Jindal Shadeed project for the production of green iron is the first major project that is expected to produce 5 million tons of green iron when the infrastructure is completed. The green iron produced at the project will be for the purpose of exporting to car factories in the world, factories that produce windmills, and factories that produce household appliances. A project of this caliber would be an added value to the heavy industries cluster in the Special Economic Zone at Duqm and would play a vital role in the development of Duqm as a key industrial hub.
Jindal Shadeed Group is investing more than USD 3 billion to develop this mega steel project in Duqm, and have already obtained the necessary approvals to secure the land for Green Hydrogen ready steel project. Goal is to produce 5 million metric tons of green steel on an annual basis that will create over USD 800 million per annum in country value addition. The plant will supply high quality steel products to automobile, wind energy and consumer durables sector amongst others. There is a booming demand for green steel from ESG conscious customers around the world especially in Europe and Asia, who have already committed significant reduction in Scope 3 emissions by 2030.
This green steel project aligns very well with Port of Duqm’s vision to be a green port operating on sustainable and renewable energy sources in line with the Oman vision 2040 to support economic diversification and reduce reliance on the oil and gas sector. This huge project will not only attract foreign investment but also provide work opportunities for local talent. This strategic project is being built over an area estimated at approximately 2 square kilometers in the concession zone at the Port of Duqm with an investment value estimated at USD 3 billion.
