Oman Set to Become Green Steel Production Hub by 2040

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Researched by Industrial Info Resources (Sugar Land, Texas)--Oman is taking major steps to redefine its economy and future energy development through strategic localization, global partnerships and industrial initiatives toward green steel production.

The country is investing in building sustainable industrial sectors to reduce its dependence on traditional oil and gas resources through advanced direct reduced iron technologies that allow flexible use of natural gas and hydrogen to minimize carbon intensity aligned with Oman's 2040 vision of decarbonization.

Vulcan Green Steel (part of the Jindal Group) is investing US$3 billion for a large integrated green steel plant capable of producing 5 million tons per year in the Duqm Special Economic Zone, followed by Meranti Green Steel's (MGS) green hydrogen-based DRI and hot briquetted iron (HBI) plant as part of the company's efforts to decarbonize the iron and steelmaking process.

Industrial Info is tracking 27 capital steel mill projects in Oman, worth US$6.04 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a list of detailed project reports.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).