Oman’s Jindal Steel eyes 10-million tpa production target

MUSCAT: Indian-backed Jindal Steel Group aims to expand its investments in Oman to achieve a combined production capacity of a world-leading 10 million tonnes per annum (tpa), with the goal of catalyzing the growth of a broader domestic steel ecosystem.
According to a senior official, the expansion strategy is designed to strengthen the Group’s contribution to Oman’s GDP, currently at 1.6%, and to the non-oil GDP, with a significant 17% share.
“Our long-term vision is to make Jindal Steel the biggest contributor to national targets under Oman Vision 2040,” said Harssha Shetty, CEO of Jindal Steel Oman. “Our strategy is to increase production in Oman to 10 million tonnes per year and facilitate downstream investment, so that at least 25% of this steel is consumed domestically by 2035. The country needs leading companies to accelerate non-oil GDP, and steel can serve as a key element, triggering broader economic growth. Over the years until 2040, we aim to drive non-oil GDP growth through investments in primary steel production and downstream development while building a large pool of young, skilled Omani talent,” Shetty told The Energy Year in a recent interview.
Promoted by Jindal Steel & Power Ltd. (JSPL) — one of India’s major steel and energy companies — the Group has already made sizable investments in an integrated complex at Sohar Port and Freezone. The facility comprises a gas-based Direct Reduced Iron (DRI) plant with a capacity of around 2 million tpa producing Hot Briquetted Iron (HBI) and Hot DRI, alongside a roughly 2.4 million tpa steel melt shop equipped to produce a wide range of steel grades.
Downstream, it operates a rebar rolling mill of about 1.4 million tpa supplying high-strength construction steel. The complex is also being expanded through backward and forward integration, including a 6 million tpa pelletizing plant. Additionally, the Group owns and operates Sohar Steel, a 0.7 million tpa facility producing rebars and wire rods.
At the Special Economic Zone in Duqm (SEZAD), the Group is constructing the first phase of a low-carbon steel project with an aggregate capacity of 5 million tpa across two phases.
Commenting on the project’s progress, Shetty stated: “Our green steel project in Duqm will be operational by Q1 2027. We have already made significant progress, released all long-lead item orders, and made payments to contractors. We now have the right partners on-site to ensure production begins within the next 15 months.”
According to the CEO, low-carbon steel is attracting strong interest from automakers, appliance makers, machinery producers, and wind-energy companies seeking suppliers to meet decarbonization targets. Furthermore, the introduction of the Carbon Border Adjustment Mechanism (CBAM) from January 1, 2026, provides additional impetus to low-carbon steel demand.