The Public Authority for Special Economic Zones and Free Zones of Oman, an Omani government economic agency, has signed a memorandum of understanding with the Jindal Shadeed Group to build a green iron production plant with investments of $3 billion in Oman, according to Oman News Agency.
The agency added that the factory would be established in the Special Economic Zone at Duqm to provide iron for the automotive sector and others.
Oman and other Gulf countries are seeking to reduce carbon emissions in the industrial sector as part of their commitment to combating climate change.
Green iron is made using green hydrogen, which contributes to reducing carbon emissions harmful to the environment.
Jindal Shadeed considers itself the largest manufacturer and producer of iron and steel in the Sultanate.