Oman is well positioned to become a global hub for green iron and steel production, leveraging its industrial base, renewable energy potential, and coordinated national strategy, according to a new report by the Institute for Energy Economics and Financial Analysis (IEEFA).
The report, authored by Soroush Basirat, notes that Oman is one of the few MENA countries with an integrated steelmaking supply chain, including iron ore concentration, pelletizing, DRI, and EAF facilities, providing a strong foundation for low-emission steel production.
Oman’s strategy to produce up to 1.5 mln tons of green hydrogen by 2030, supported by abundant solar and wind resources, positions it to supply cost-competitive green iron to major markets such as the EU and Asia.
The country’s Vision 2040 and hydrogen strategy aim to diversify the economy, promote clean energy, and attract investment. New entrants such as Meranti Green Steel, Mitsui, Kobe Steel, and ACME Group are joining existing players like Jindal and Vale to develop next-generation DRI projects using both gas and hydrogen.
Basirat said Oman’s structured transition gives it a strong edge in becoming a leading exporter of green iron and steel in the coming decade.
