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 tonnes 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, Ibtisam Ahmed al Faroojia, the Under-Secretary 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.”
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 Ibtisam bint Ahmed Said al Farooji, 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."
Duqm's SEZAD is rapidly emerging as a global hub for the supply of green hydrogen, solidifying Oman's position as a pioneer in environmentally sustainable industries. This state-of-the-art Steel facility in Duqm is revolutionising eco-friendly industrial operations and catering to the automotive, wind turbine and consumer goods sectors across the GCC, Europe, and beyond. As Oman aims to cement itself as a worldwide leader in sustainable steel production, the SEZAD project is a significant step towards achieving this goal.
At its core, this ground-breaking initiative supports international efforts to combat climate change by harnessing the power of green hydrogen. By utilising this innovative technology, the project significantly reduces the carbon footprint inherent in steel production, making it an irresistible choice for environmentally conscious industries worldwide. Unlike conventional methods of transporting green hydrogen in the form of green ammonia with minimal value addition, this project will process green hydrogen within Oman to do value addition and make green steel. This strategic approach encourages the creation and development of a robust green hydrogen ecosystem within the nation.
Furthermore, by focusing on in-country value addition, the project takes significant strides in reducing transportation-related carbon emissions while simultaneously supporting the growth of green technology and steelmaking expertise within Oman. This commitment to sustainability and the utilisation of renewable resources serves as a powerful testament to Oman's dedication to becoming a global leader in environmentally responsible practices.
As the SEZAD expands in Duqm, it promises to be a shining example of how industrial development and environmental stewardship can coexist harmoniously. With its cutting-edge facilities and forward-thinking approach, this project positions Oman as a trailblazer in the global steel and automotive industries. It showcases the nation's unwavering commitment to forging a more sustainable future for generations to come.
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