Jindal Steel Oman has signed a memorandum of understanding (MoU) with Sohar International Bank and Credit Oman to establish a framework that supports small and medium enterprises (SMEs) in procuring steel more efficiently and securely. The company noted that Sohar International Bank is the first in the Sultanate to offer this type of support in partnership with Credit Oman.
According to Jindal Steel Oman, the initiative underscores the partners’ commitment to providing integrated financial solutions that empower SMEs, improve access to essential materials, and reduce risks through insurance-backed coverage.
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 in the Duqm SEZ, while Jindal Steel Oman is constructing a 6 mln tons per annum pelletizing plant in Sohar to produce high-grade iron ore pellets.
