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Arab Steel Summit

Oman

Al Jazeera Steel’s profits increased to 1.82 million riyals by the end of َQ1of 2024

The profits of Al-Jazeera Steel Company, which operates in the iron pipe industry, rose to 1.82 million Omani riyals (15 baisa/share) at the end of the first quarter of 2024, compared to profits of 1.49 million riyals achieved in the same period in 2023, as the following table shows: income list Period First Quarter 2023 …

Al Jazeera Steel’s profits increased to 1.82 million riyals by the end of َQ1of 2024 Read More »

World’s crude steel production declined by 1.6% in January 2024, and Arab countries increased

World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 148.1 million tonnes (Mt) in January 2024, a 1.6% decrease compared to January 2023. Crude steel production by region Area Jan 2024 (Mt) % change Jan 24/23 Jan-Jan 2024 (Mt) % change  24/23 Africa 2.0 16.3 2.0 16.3 Asia …

World’s crude steel production declined by 1.6% in January 2024, and Arab countries increased Read More »

Türkiye’s steel exports to GCC decline in December 2023

In December 2023, Turkey’s steel exports to the Gulf region saw a 6% decline compared to the previous month, according to the Turkish Statistical Institute (TUIK). Total steel exports for December amounted to 11,710 tons, compared to exports of 12,467 tons in November. The value of exports decreased by 4%, reaching US$9.1 million. Turkey’s steel …

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Al Jazeera Steel Products signed a memorandum of understanding to transport raw materials via the Omani-Emirati railway network

Oman and Etihad Rail signed a memorandum of understanding with Al Jazeera Steel Products Company to establish a strategic framework for cooperation in the field of logistical solutions for transporting raw materials and finished products in a more efficient, effective and sustainable manner. Under the memorandum, “Oman and Etihad Rail” will employ the Omani-UAE railway …

Al Jazeera Steel Products signed a memorandum of understanding to transport raw materials via the Omani-Emirati railway network Read More »

Al-Jazeera Steel’s profits increased to 4.13 million riyals, 32%, by the end of 2023

The profits of Al-Jazeera Steel Company, which operates in the iron pipe industry, rose to 4.13 million Omani riyals (33 baisa/share) by the end of 2023. This is compared to profits of 3.14 million riyals achieved in the same period in 2022, as the following table shows: Income List Period 2022 2023 Changes Revenue (million …

Al-Jazeera Steel’s profits increased to 4.13 million riyals, 32%, by the end of 2023 Read More »

World crude steel production increased by 3.3% in November 2023

World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 145.5 million tonnes (Mt) in November 2023, a 3.3% increase compared to November 2022. Africa produced 1.8 Mt in November 2023, up 3.1% on November 2022. Asia and Oceania produced 104.8 Mt, up 2.2%. The EU (27) produced 10.6 …

World crude steel production increased by 3.3% in November 2023 Read More »

Oman: Laying the foundation stone for establishing an integrated green steel factory in Duqm

The foundation stone was laid yesterday in the Special Economic Zone in Duqm for an integrated factory project to produce green iron from hydrogen, with investments exceeding $3 billion (one billion and 158 million Omani riyals), to serve as a new start for industrial development in the Sultanate of Oman. The project implemented by Folken …

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World crude steel production increased by 0.6% in October 2023

World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 150.0 million tonnes (Mt) in October 2023, a 0.6% increase compared to October 2022. Africa produced 1.9 Mt in October 2023, up 3.5% on October 2022. Asia and Oceania produced 108.8 Mt, up 0.8%. The EU (27) produced 10.6 …

World crude steel production increased by 0.6% in October 2023 Read More »

An agreement between Oman, Etihad Rail and Emirates Steel Arkan to transport limestone

Oman and Etihad Rail Company, the developer and operator of the railway network linking the Sultanate of Oman and the UAE, signed a memorandum of understanding with Emirates Steel Arkan , the largest iron and building materials Production Company in the UAE, to export raw materials from the Sultanate of Oman to the UAE. Under …

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A memorandum of understanding for the export of iron products from the port of Sohar to the UAE markets through the UAE-Omani railway network

Oman and Etihad Rail signed a memorandum of understanding with Jindal Steel and Energy Company. With the aim of providing sustainable logistical solutions to transport up to 4 million tons annually of “Jindal” raw materials and products. From its industrial complex in the port of Sohar to the United Arab Emirates, via the Emirati-Omani railway …

A memorandum of understanding for the export of iron products from the port of Sohar to the UAE markets through the UAE-Omani railway network Read More »

Al-Jazeera Steel’s profits decreased to 2.03 million riyals (-28%) by the end of the first half of 2023

”Al Jazeera Steel” company profits, which works in the manufacture of iron pipes, declined to 2.03 million Omani riyals (16 baisas / share) at the end of the first half of 2023, compared to profits of 2.82 million riyals achieved in the same period in 2022. Income List Period First Half 2022 First Half 2023 …

Al-Jazeera Steel’s profits decreased to 2.03 million riyals (-28%) by the end of the first half of 2023 Read More »

Emirates Steel Arkan and Al Jazeera Steel Products sign a memorandum of understanding in the structural sections field

The Emirates Steel Arkan Group signed a memorandum of understanding with Al Jazeera Steel Products Company (AJSP), which specializes in manufacturing iron products in the Sultanate of Oman, to establish a strategic cooperation system that allows them to benefit more from their common experiences and seize new opportunities in the sector. The signing of the …

Emirates Steel Arkan and Al Jazeera Steel Products sign a memorandum of understanding in the structural sections field Read More »

POSCO Steel enters into an alliance to produce 1.2 million tons of green ammonia in the Sultanate of Oman

ENGIE, a provider of low-carbon energy service solutions, and POSCO, the largest steel maker in South Korea, announced their role in an alliance aimed at promoting renewable energy resources in Oman by developing a green ammonia project with a capacity of 1.2 million metric tons. Other partners in the alliance include Samsung Engineering, Korea East-West …

POSCO Steel enters into an alliance to produce 1.2 million tons of green ammonia in the Sultanate of Oman Read More »

The United States announced the final revision of anti-dumping duties on steel pipes from the Sultanate of Oman

The US Department of Commerce (DOC) has announced the results of its administrative review of anti-dumping (AD) duties on welded quality round carbon steel pipe from the Sultanate of Oman for the periods December 1, 2019, through November 30, 2020, and December 1, 2020, through November 30, 2021. Accordingly, the Ministry decided that Oman’s steel …

The United States announced the final revision of anti-dumping duties on steel pipes from the Sultanate of Oman Read More »

Jindal Shadeed Iron and Steel is leading the process of carbon neutrality in the Sultanate of Oman

Within the framework of its strategy to enhance sustainability, Jindal Shadeed Iron and Steel – the largest producer of iron and steel in the private sector in the Gulf Cooperation Council countries – participated in a series of pioneering initiatives aimed at reducing carbon dioxide emissions resulting from its activities. As these initiatives embody Jindal …

Jindal Shadeed Iron and Steel is leading the process of carbon neutrality in the Sultanate of Oman Read More »

Oman: Vale signs an agreement to establish an integrated green steel industrial complex in Duqm

Vale Company signed a land reservation agreement with the Port of Duqm Company to establish an integrated green iron industrial complex in the Special Economic Zone at Duqm on an area of 6.78 km. It will include three plants described in ore concentration, green briquetting, and reduced iron. Vale also signed a memorandum of understanding …

Oman: Vale signs an agreement to establish an integrated green steel industrial complex in Duqm Read More »

IMF forecasts for the economies of Arab countries for the year 2023

The International Monetary Fund has slightly lowered its global growth forecast for 2023 as the pace of interest rate hikes slows, but warned that severe financial system disruptions could drive output to near-stagnation levels. The fund stated in its latest report on global economic prospects that the risks of spreading infection in the banking system …

IMF forecasts for the economies of Arab countries for the year 2023 Read More »

Oman and Japan cooperate to establish a direct reduced iron plant with a production capacity of 5 million tonnes

The Public Authority for Special Economic Zones and Free Zones signed a memorandum of understanding with the Japanese companies -Kobe Steel- and -Mitsui and Partners Ltd to establish a reduced iron plant in the Special Economic Zone at Duqm with a production capacity estimated at 5 million tonnes of reduced iron annually. Likewise, the two …

Oman and Japan cooperate to establish a direct reduced iron plant with a production capacity of 5 million tonnes Read More »

Accelerate the development of the railway network between the Emirates and Oman

Oman and Etihad Rail Company, the developer and operator of the railway network linking the Sultanate of Oman and the UAE, and Mubadala Investment Company (Mubadala) signed a cooperation agreement to develop the railway network linking Oman and the UAE, which extends over a distance of 303 km, with a total investment value of $3 …

Accelerate the development of the railway network between the Emirates and Oman Read More »

Turkey imports 2.52 million tonnes of pellets in 2022, and Oman leads the Arab countries

In December of last year, Turkey’s import volume of billet slabs decreased by 2.0% compared to November 2022 to reach 266,540 tonnes, up 23.2% year on year, according to data from the Turkish Statistical Institute (TUIK). The total value of these imports amounted to $154.4 million, down by 1.8% monthly and up by 3.0% annually. …

Turkey imports 2.52 million tonnes of pellets in 2022, and Oman leads the Arab countries Read More »

$186.8 billion is the contribution of “building and construction” to the Arab economies

The Arab Monetary Fund revealed that the construction sector in the Arab countries has recovered from the effects of the “Covid-19” pandemic, and the sector’s contribution to the GDP for the year 2021 amounted to about $186.8 billion, compared to $178.3 billion in 2020, with a growth of 4.7%. The Fund added, in a report, …

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Oman : Jindal Shadeed intends to build a green steel plant with investments of $3 billion

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 …

Oman : Jindal Shadeed intends to build a green steel plant with investments of $3 billion Read More »

The rise in the GDP of the Arab countries in 2022, with Saudi Arabia in the lead

The gross domestic product (GDP) at the current prices of the Arab countries is likely to rise by 21% this year to reach about $3.4 trillion, “representing 3.35% of the global economy,” compared to $2.81 trillion in 2021 “representing 2.92% of the global economy.” According to the monitoring unit of the reports in the “Al …

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Memorandum of Cooperation to study and explore the development of an integrated industrial complex in Oman

The Ministry of Commerce, Industry and Investment Promotion signed a memorandum of cooperation with Vale SA “Vale”, in partnership with the Public Authority for Special Economic Zones and Free Zones, and the National Program for Investment and Export Development “Nizhar”. The memorandum of cooperation includes a study and exploration of the feasibility of developing an …

Memorandum of Cooperation to study and explore the development of an integrated industrial complex in Oman Read More »

Oman to extend evening lockdown, no major impact on steel industry

Despite the unprecedented measures to curb the pandemic spreading, Oman remains deeply concerned about the matter. The authorities were forced to make a tough decision and implement additional restrictions during religious holidays. The Supreme Committee decided to introduce total lockdown in the Sultanate during the Eid Al Adha holidays. Oman banned travel movement and shut …

Oman to extend evening lockdown, no major impact on steel industry Read More »