Muscat: In a staggering development, Oman has achieved industrial proficiency and surpassed the capability requirements for the manufacture of Steel, to become a net exporter of Steel. The status of a net exporter stands testament to Oman’s commitment and drive towards growth and self-sufficiency.
Commenting on the landmark achievement, Sameer Gupta, Head of Production Planning, Shipping and Logistics, at Jindal Shadeed Iron & Steel (JSIS), said, “From 2015 to 2020, we have been able to turn Oman from an importer of steel — Oman was importing about a million tons (MT) of steel per annum — to a net exporter of steel; today we are exporting about 1.5 MT of steel per annum.” JSIS operates the largest integrated steel mill in Oman.
Speaking at a recent online webinar organized by Sohar Port and Freezone in collaboration with the Federation of Indian Chambers of Commerce & Industry (FICCI), Gupta said that Jindal Shadeed, set up with an investment of around $1.2 billion, currently contributes around 1.5% of Oman’s annual Gross Domestic Product (GDP).
During the presentation, Gupta highlighted the capabilities of the Steel plant, stating, “We are the only plant in the GCC with a vacuum degassing facility which helps us in producing special grade alloy steels for use by downstream industries for special applications, such as in the manufacture of automotive parts.” Gupta credited Oman’s business-friendly investment environment, as well as Sohar Port’s strategic location, for the parent company, the Indian conglomerate Jindal Steel and Power, to acquire the existing project back in 2010 and turn it into a success story.
