Sohar - Jindal Shadeed Iron & Steel (JSIS), part of the $18 billion Indian steel conglomerate OP Jindal Group, inaugurated the newly expanded, state-of-the-art integrated steel complex at the Sohar Industrial Port. The steel complex includes the GCC's largest capacity Electric Arc Furnace of SMS and Rebar Mill and would strengthen the domestic production capacity which is vital to the nation's industrial growth. The inaugural event was held under the auspices of His Highness Sayyid Taimur bin Asad al Said. HH Sayyid Taimur bin Asad al Said dedicated the Steel Complex to the Sultanate in the presence of Naveen Jindal, Chairman, Jindal Steel and Power Limited. Jindal in his speech thanked the government for their wholehearted support to JSIS.
The inaugural plaque at the complex was also officially unveiled on this occasion.Jindal Shadeed Iron and Steel LLC has made a capital investment of over $1 billion to expand the integrated steel complex. 2.0 MTPA-capacity Steel Melt Shop has already been commissioned in April 2014. The Rebar Mill with a capacity of 1.4 million tonne per annum (MTPA), is the latest addition to the complex which has been commissioned in January 2016. Rebar is essential to the construction industry and once the production begins, JSIS would become a supplier of finished steel. The new complex will also play a pivotal role from being a supplier of hot briquetted iron (HBI) to an integrated steel maker in the region. The integrated nature of the plant operations will also contribute to in-country value (ICV) as product of one unit would be fed to the subsequent one till reaching finished steel, adding value at each stage. And in the process, it will create substantial employment opportunities for the locals.
Speaking about this important milestone CEO of Jindal Shadeed, NA Ansari said "This is a big moment for all of us at Jindal Shadeed Iron and Steel. Despite a critical steel market, we have established ourselves as a formidable player in the region and have achieved several production milestones in 2015. The newly expanded facility will further facilitate in making Oman self sufficient in meeting its domestic demands for rebars. Jindal Shadeed is the only company in GCC to export special quality billets to Europe for automotive, welding, CHQ etc applications, and special quality round billets to Saudi Arabia for seamless pipe manufacturing. The capacity of the plant has been selected on the basis of demand in GCC and the neighbouring countries and, through this complex, Oman will help reduce the dependence of the GCC countries on imports from outside the region."
© Oman Daily Observer 2016
