Foundation stone for integrated green hydrogen steel factory laid in Duqm

Business Monday 27/November/2023 20:47 PM
By: Times News Service
Foundation stone for integrated green hydrogen steel factory laid in Duqm

Duqm: Vulcan Green Steel, a part of Jindal Steel Group, is set to make history in the global steel industry by building the world’s largest green hydrogen ready steel plant in the Special Economic Zone at Duqm (SEZAD), Oman.

The groundbreaking ceremony,  combined with a symbolic planting of an ‘Eternal Green Tree’, took place in Duqm, SEZAD, on Monday, in the presence of Dr. Ali bin Masoud Al Sunaidy, the Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ).

Also present were Naveen Jindal, Chairman Jindal Group and Venkatesh Jindal, Vice Chairman Vulcan Green Steel, dignitaries, representatives from the government institutions, leaders from the private sector, and executive teams from Vulcan Green Steel and the Jindal Group in Oman.  

This new chapter in Oman’s industrial development commenced with Vulcan Green Steel’s (VGS) ‘Green Pledge’ for erecting a multi-phased steel mill in Duqm and the project is fully aligned with the target of reaching Net Zero by 2050, set by His Majesty Sultan Haitham bin Tarik, and it positions the country as a trailblazer in green steel production as per Oman Vision 2040.

Venkatesh Jindal said: “Oman, with its optimal conditions for green energy production, stands as a beacon of hope for a greener future, and Vulcan Green Steel aligns perfectly with these opportunities. Moreover, Oman’s progressive and visionary government has earmarked extensive land parcels for renewable energy projects, which will be essential for our vision of greener steel production, starting before the end of this decade.”  

Scheduled for completion by 2026 and with production starting in 2027, the green steel project of VGS in Duqm will establish a fully integrated green hydrogen-ready steel plant, producing 5 million metric tonnes per annum (5 MTPA) of green steel with approximately 85 percent fewer CO2 emissions than the current global average, before the end of the decade.

A state-of-the-art steel facility, which will be revolutionising eco-friendly industrial operations and will cater to the automotive, wind turbine, and consumer goods sectors. This project is estimated to achieve an astounding 12 million tonnes per annum in CO2 savings, which will make a significant positive impact on global emissions reduction.

Another pivotal innovation involves the extensive utilisation of renewable energy sources in steel production. While wind and solar power will provide around 16 hours of electricity, VGS is actively exploring additional storage options to source 24x7 green energy to bridge the remaining seven–eight hours.