MUSCAT: Public Establishment for Industrial Estates (Madayn) has signed an investment agreement with Jindal Steel Company to establish an integrated iron and steel plant at Suhar Industrial City with an investment of RO 150 million.
The project will be developed over an area exceeding 583,000 square metres in phase 7 of Suhar Industrial City, reinforcing Oman’s position as a regional hub for heavy industries and advanced manufacturing.
The integrated facility is expected to support the domestic supply of iron and steel products, strengthen export activity and create employment opportunities for Omani nationals. The project also aligns with the Sultanate of Oman’s efforts to expand industrial diversification and attract value-added investments into strategic sectors.
The agreement follows the acquisition of Al Qamar Steel Company by Jindal Group, reflecting growing international investor confidence in Oman’s industrial sector and business environment. The move also underlines the group’s expansion plans in the regional steel industry.
The new project is anticipated to contribute to the growth of downstream industries linked to construction, infrastructure and manufacturing, while enhancing Suhar’s role as a key industrial and logistics centre in the region. — ONA
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