Plan to set up large steel plant in Oman
Oman, Economics, 1/19/1998

Preliminary studies to determine the viability of setting up a major steel plant in the Sultanate of Oman are due to begin next month.

Envisioned is a gas-fired Direct Reduced Iron (DRI) complex with an annual capacity of 1.2 million tons, rivaling in size some of the world's largest DRI-based steel plants.

Plans to conduct the feasibility study were agreed to at talks held last September between the Ministry of Commerce and Industry and a visiting team from the Japan International Cooperation Agency (JICA).

Dr. Hamed Al-Dahahab, director-general of industry, and Akinobu Yosunoto, vice president of JICA, led their respective sides at the talks.

A final deal on the study was inked by commerce and industry undersecretary Ali bin Masoud al-Sunaidy.

Funded by JICA, the study will cover various aspects of the proposed facility, notably project costs, market surveys and infrastructure and utility requirements.

The study will be completed during the course of the year, according to a press statement issued on behalf of the Japanese agency.

The project is expected to be financed and promoted by the private sector in line with the government's objective of boosting the sector's role in the country's economic development.

A steering committee, chaired by a representative from the Ministry of Commerce and Industry, will also be set up to oversee the preparation of the feasibility report and implementation of its findings.

Previous Stories:
  Oman's crude oil reserves increase   (1/15/1998)
  China trade team in Oman   (1/14/1998)
  19 investment projects discussed.   (12/13/1997)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search