Naveen Jindal's JSPL group has requisitioned a greenfield 2 million ton (mt) steel plant in Sohar, Oman at an investment of $800 million. The greenfield unit, which is an affiliate of Jindal Shaheed Iron & Steel, a wholly possessed subsidiary of JSPL, is one of the biggest steel plants in the Gulf region. With this, JSPL has been getting ready to meet a significant piece of the deficit in the North Africa and Gulf district, where steel interest is evaluated at 12 million ton for every year.
JSPL had acquired Shaheed Iron & Steel's 1.5 mt gas-based hot briquetted iron (HBI) unit in 2010 for $500 million.
With the commissioning of the new facility, Jindal Shaheed will emerge as one of the largest steel plants in the Middle East & Gulf region.
The steel melting shop, using stateof-art technology from Danielli Italy, is Oman's first and largest such unit and was commissioned in 23 months from the start of work at the site.
Naveen Jindal, chairman, JSPL said: "The commissioning of Jindal Shadeed's - Steel Melting Shop represents our commitment to build a comprehensive steel manufacturing facility in The Sultanate of Oman. The plant will meet the needs of not just Oman but entire Gulf region & Middle East."
Earlier, Jindal Shadeed had set up a 1.8 mt direct reduced iron plant, with 'engineering' help from Kobe Steel (Japan) and Midrex (USA), experts in direct iron technology.