The Special Economic Zone at Duqm (SEZD), Oman celebrated laying the foundation stone for the establishment of an integrated green hydrogen steel factory with a production capacity of about 5 million metric tons annually. The unit generates investments exceeding $3 billion.
The project, being implemented by Vulcan Green Steel, a subsidiary of Jindal Shadid Steel Group, is scheduled to be completed by 2026 and to begin production in 2027. The project will cut down carbon dioxide emissions by approximately 85 percent below the current global average.
The ceremony was held under the auspices of Dr. Ali Masoud Al Sunaidi, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ).
Venkatesh Jindal, Vice Chairman of the Board of Directors of Vulcan Green Steel, said that the project will enhance environment-friendly industrial operations. It will cater to the needs of the automotive sector, wind turbines, consumer commodities and other sectors, he added.
The project is expected to achieve significant savings of 12 million tons annually in carbon dioxide, said Venkatesh Jindal, noting that the plant will provide flexibility to move from 100 percent reliance on natural gas to 100 percent endorsement of green hydrogen.
