Indian-backed Jindal Steel Group plans to expand its investments in Oman to reach a combined steelmaking capacity of 10 mln tons per annum, aiming to support the growth of a broader domestic steel ecosystem.
According to Harssha Shetty, CEO of Jindal Steel Oman, the strategy is aligned with Oman Vision 2040 and is intended to raise the group’s contribution to GDP and non-oil GDP. The company plans to increase domestic consumption to at least 25pct of output by 2035, supported by downstream investments and workforce development.
Shetty added that demand for low-carbon steel is increasing from automakers, appliance manufacturers, machinery producers, and wind-energy companies, with further support expected from upcoming carbon-related trade regulations in key markets.
Jindal’s operations in Oman span four business units. Jindal Steel Sohar, formerly Jindal Shadeed Iron and Steel, is the largest privately owned integrated steel producer in the GCC, featuring a 2 mln tons per annum gas-based DRI plant, a 2.4 mln tons per year melt shop with advanced EAF and ladle furnaces, and a 1.4 mln tons per annum rebar mill. The group expanded further in 2023 with the acquisition of Sohar Steel, adding 700,000 tons of long-products capacity.
In addition, Jindal Steel Duqm (Vulcan Green Steel) is developing a 5 mln tons per year green steel complex at the Duqm SEZ in two phases. Shetty said the first phase is expected to be operational by Q1 2027, with major equipment orders placed and construction progressing on site. The group is also constructing a 6 mln tons per annum pelletizing plant in Sohar to produce high-grade iron ore pellets.
