Iron, Steel, and Aluminium

Forging Ahead in Iron, Steel, and Aluminium

As the GCC countries take active measures towards diversifying their economies, more investments will flow into sectors such as infrastructure, construction real estate and hotels, further driving the demand for metals. The per capita value of the GCC`s construction industry will increase from $2,045 in 2014 to $3,256 in 2020 dwarfing even China`s per capita value of $473 in 2014 and $680 in 2020. With manufacturers in SOHAR actively seeking to meet a 12 million tonne shortfall in the Middle East and with demand set to grow to 2 billion tonnes by 2025, steel is one area with real potential for growth.

Primary and secondary metal projects and downstream activities have all found their way to SOHAR, enticed by the mutually beneficial efficiencies that add value to their operations.

SOHAR is well-equipped with deep-water jetties capable of handling the Valemax class of Very Large Ore Carriers, which are among the world’s largest ships. This means that raw materials such as iron ore can be easily received, ensuring smooth primary and secondary production processes.

Five new ferrochrome smelters are currently under construction at SOHAR Freezone and following a US$60 million deal, they will be accompanied by the biggest rare earth metals plant of its kind (antimony), second only to China. The plant manufactures antimony metal and trioxide, a precious mineral used as a flame retardant in a wide range of industries. The antimony concentrate will be sourced from a variety of antimony mines across the globe.

Industry leaders in the world of steel have already firmly established themselves in SOHAR: including Vale (Brazil), Jindal (India), Sohar Steel (Oman), Indsil (India), Inco (Turkey). Dunes (India) and Cabrol (India).