MUSCAT: Oman’s Public Establishment for Industrial Estates (Madayn) has signed an investment agreement with India’s Jindal Steel to establish an integrated iron and steel plant at Suhar Industrial City with an investment of RO150 million.
The project, to be developed over more than 583,000 square metres in Phase 7 of Suhar Industrial City, is aimed at boosting Oman’s industrial capabilities and strengthening its position as a regional hub for heavy industries and advanced manufacturing.
The facility is expected to support domestic supply chains for iron and steel products, expand export activity and create job opportunities for Omani nationals, according to Madayn.
Read More
- Joyalukkas breaks two Guinness World Records titles with the world’s heaviest and largest pair of gold earrings
- IMF mission to begin Oman economic review on October 25
- Kreston Menon Al Dohh enters Oman market
- Muscat maritime forum to tackle resilience of global trade routes
- Oman Investment Authority leads alliance to launch $500 million Central Asia and Caucasus fund
The agreement follows Jindal Group’s acquisition of Al Qamar Steel Company, a move seen as reflecting growing foreign investor confidence in Oman’s industrial sector and business climate.
Officials said the project aligns with Oman’s broader strategy to diversify its economy through industrial expansion and attract value-added investments into strategic sectors.
The plant is also expected to support downstream industries linked to construction, infrastructure and manufacturing, while further reinforcing Suhar’s role as a major industrial and logistics hub in the region.
For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.
