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Dhofar Steel has announced plans to build a US$400 million steel plant in Salalah in southern Oman
The plant will produce one million tonnes of steel a year and will provide 1,200 job opportunities for Omanis. A start date for construction of the plant, however, was not mentioned in a company statement.
Dhofar Steel has been established by three Gulf investors - the UAE's Al Suwaidi Group, Saudi Arabia’s Al Tuwairqi Group and Oman’s Salalah Development Company.
Demand for steel in Oman has continued to grow in recent months and the country's first stainless steel project was established in Freezone Sohar earlier this year by another joint venture between South African stainless steel product manufacturer SMI Steelmor and Oman's Teejan Group.