A final investment decision is expected this year on the green steel complex that Brazilian mining conglomerate Vale plans to build in a special economic zone in Dukma. This is reported by Zawya.
The $5 billion megahaba project will focus on the production of a more environmentally friendly version of Vale iron ore pellets and hot briquetted iron (HBI), which will become raw materials for steel mills throughout the Middle East. The construction is expected to be completed by 2029, with the first phase expected to be completed as early as 2026.
According to Nasser al — Azri, CEO of Vale Oman Pelletising Company, the project is in the early stages of development and has attracted significant interest from international investors.
The Oman investment, which was first announced in November 2022, is one of three mega hubs planned by Vale in the Middle East. The company intends to develop and operate iron ore processing and briquetting plants to ensure a stable supply of high-quality products.
Local partners will lead the development of auxiliary logistics infrastructure, investors and customers will lead the construction and operation of direct restoration plants and will purchase the resulting HBI for the domestic market and export.
