Minerals Development Oman (MDO) has signed shareholder agreements with India’s JSW Group, making it a key partner in the South Minerals Project, one of Oman’s most significant upcoming industrial minerals developments, the foreign ministry said.
The project involves an estimated USD 530 mln investment to establish an integrated gypsum and limestone value chain and build a deep-water minerals berth in A’shuwaymiyyah, in the Wilayat of Shaleem and the Hallaniyat Islands. The planned berth will have an annual handling capacity of 27 mln tons.
In a separate disclosure, JSW Infrastructure said its subsidiary, JSW Overseas FZE, will acquire a 51pct stake in South Minerals Port Company SAOC, a newly formed entity under MDO. MDO will retain the remaining 49pct.
Construction is expected to take 36 months, with commercial operations targeted for the first half of 2029. The port will handle bulk minerals such as limestone, gypsum, and dolomite, key raw materials for India’s steel and cement industries.
The broader South Minerals Project covers three concession zones spanning 1,500 sq km, containing confirmed gypsum and limestone deposits identified through extensive exploration by MDO. Quarrying capacity is planned at 30 mln tons per year.
JSW Infrastructure is part of the JSW Group, a diversified multinational conglomerate with businesses in steel, energy, infrastructure, cement, and more.
