06 December 2010
MUSCAT -- Sohar Industrial Port Company (SIPC) has signed an addendum to the sub usufruct agreement with Jindal-Shadeed. It was signed by Maqbool bin Ali Sultan, Chairman of SIPC and the Minister of Commerce and Industry, with the CEO of SIPC, Jan H Meijer and Rajesh Bhatia, Director Jindal Steel and Power (Mauritius).
After Jindal Steel and Power took over the shares of Shadeed Iron and Steel LLC at the Port of Sohar in the Sultanate of Oman, a number of agreements needed to be revised and updated and earlier agreements and commitments with Shadeed Iron and Steel needed to be honoured or finalised. This addendum to the sub usufruct agreement is the last and final agreement required to fulfil all those requirements by Jindal-Shadeed.
This will now ensure an unhindered start up their production which is expected to already take place in January 2011. Jindal Steel and Power Ltd (JSPL) is one of the leading companies in the steel sector having integrated steel plants in India at various locations and also having presence outside India on various countries. With an annual turnover of $2.1 billion, JSPL forms a part of $ 12 billion Jindal Group. JSPL is a leading player in steel, power, mining, oil and gas and infrastructure.
The company operates in sectors across Asia (now also including Sultanate of Oman), Africa, and in both South and North America. Shadeed Iron and Steel venture has set up an integrated steel plant in the Port of Sohar. This is the first integrated steel plant in the Sultanate.
MUSCAT -- Sohar Industrial Port Company (SIPC) has signed an addendum to the sub usufruct agreement with Jindal-Shadeed. It was signed by Maqbool bin Ali Sultan, Chairman of SIPC and the Minister of Commerce and Industry, with the CEO of SIPC, Jan H Meijer and Rajesh Bhatia, Director Jindal Steel and Power (Mauritius).
After Jindal Steel and Power took over the shares of Shadeed Iron and Steel LLC at the Port of Sohar in the Sultanate of Oman, a number of agreements needed to be revised and updated and earlier agreements and commitments with Shadeed Iron and Steel needed to be honoured or finalised. This addendum to the sub usufruct agreement is the last and final agreement required to fulfil all those requirements by Jindal-Shadeed.
This will now ensure an unhindered start up their production which is expected to already take place in January 2011. Jindal Steel and Power Ltd (JSPL) is one of the leading companies in the steel sector having integrated steel plants in India at various locations and also having presence outside India on various countries. With an annual turnover of $2.1 billion, JSPL forms a part of $ 12 billion Jindal Group. JSPL is a leading player in steel, power, mining, oil and gas and infrastructure.
The company operates in sectors across Asia (now also including Sultanate of Oman), Africa, and in both South and North America. Shadeed Iron and Steel venture has set up an integrated steel plant in the Port of Sohar. This is the first integrated steel plant in the Sultanate.
© Oman Daily Observer 2010
