MUSCAT – Oman is on the cusp of making history in the steel industry with the ambitious launch of Vulcan Green Steel in Duqm, a ground-breaking initiative by Jindal Steel Group. This project aligns with Oman’s commitment to reaching Net Zero Emissions by 2050 and positions the country as a trailblazer in green steel production.
Scheduled for completion by 2026, the mega green steel project in the Special Economic Zone at Duqm (SEZAD) will establish a six million metric tons per annum (6 MTPA) green hydrogen-ready steel plant. This project is estimated to achieve an astounding 12 million tonnes per annum CO2 savings, making a significant positive impact on global emissions reduction. The project represents a marquee initiative in the fight against climate change and marks a new era of large-scale green steel production. Powered entirely by renewable energy and green hydrogen, it is set to become one of the largest green steel investments in the Gulf Co-operation Council (GCC) countries, generating anticipation and excitement worldwide.
In a statement regarding this project, Her Excellency Ibtisam Ahmed Al Faroojia, the Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Investment Promotion, affirmed, “The Green Steel project, to be carried out by Vulcan Green Steel and Jindal Shadeed Iron & Steel in Duqm with investments exceeding 1.3 Billion Omani Rials, represents a pioneering step in Oman’s journey to become a global hub for green industries. These industries will benefit from green hydrogen and renewable energy projects. The project will mark the beginning of large-scale industrial projects that will solidify Oman’s presence on the world map as an attractive destination for foreign direct investments in this promising sector and its role in providing meaningful employment opportunities for national talent.”
Her Excellency, the Undersecretary, added, “Since its inception in Oman in 2010, Jindal Shadeed Company has been actively engaged in the comprehensive development journey of the country and has established itself as a reliable partner and active contributor to this journey. With the completion of the new projects announced by the group, it will contribute to enriching the national economy and participating in achieving the goals of Oman Vision 2040 and the carbon neutrality goals of 2050.”
Under the visionary leadership of His Majesty Sultan Haitham bin Tarik, Oman fully embraces this transformative initiative as a critical step towards establishing itself as a prominent hub for green industries on the global stage. Decarbonisation is at the core of the Jindal Group’s agenda as they proactively reduce the industry’s carbon footprint. Their dedication to implementing greener technologies and investing in talent development has earned them recognition as one of the Gulf region’s lowest-emission steel producers.
Aligning with the sentiments expressed by Her Excellency Ibtisam Bint Ahmed Said Al Faroojia, Khalid Jashmi, Senior Advisor from the Jindal Steel Group, expressed pride in Oman’s pioneering spirit and commitment to a sustainable future. He stated, “The Vulcan Green Steel project is a testament to Oman’s pioneering spirit and commitment to a sustainable future. We are proud to be frontrunners in the global Green Steel transition, and we are confident in making the world’s one-of-a-kind green steel project a reality. This venture sets a new standard for green energy to green steel projects, contributing to Oman’s journey towards becoming a global hub for green industries.”