Jindal Steel and Power is likely to start a 2 million tonnes per annum (MTPA) capacity plant in Oman in October. It has placed orders for bar and rod mills for the same. Steel melting shop will produce billets and next logical step is to make bar and rods, long products.
The company had acquired Shadeed Iron and Steel in Oman in May, 2010 from Abu-Dhabi's Al Ghaith Holdings for about USD 500 million. It has also invested another $500 million in developing the facilities there, which includes 1.5 MTPA DRI/HBI plant and the upcoming 2 MTPA steel plant. The company has plans to expand it further, depending upon the demand in the region.
