ABU DHABI: Abu Dhabi-based Al-Gaith Group is setting up $750 million steel manufacturing plant at the Sohar Industrial Port in the Sultanate of Oman, with a capacity to produce 1.5 million metric tons per annum. The mega project was executed after a ceremony which was attended by Shaikh Saif Bin Hemyar Al-Shehi, the Wali of Liwa, Keiji Omori, the Japanese Ambassador to the Sultanate of Oman, Jan Meijer, CEO of Sohar Industrial Port Company and Ghaith Hamel Khadem Al-Ghaith, Vice-Chairman of Al-Ghaith Holding PJSC, a business conglomerate based in Abu Dhabi whose Al-Ghaith Holding has the majority shareholding in Shadeed Iron & Steel LLC.
The plant once commissioned will be one of its kind in the global steel making industry which will be equipped with the HOTLINK feeding system.
The plant will be equipped with a capacity of 1.5 million tons per annum and the final product will be steel billets and hot briquette iron (HBI).
In addition, Shadeed Iron & Steel will be fully equipped Quay Wall having a depth of -19 m (draft) which is capable of handling a capsize vessel of 175,000 dead weigh tonnage. Ghaith Hamel Khadem Al-Ghaith in his remarks said that the mega project in many ways is first of its kind amongst the global steel manufacturers by having introduced the latest HOTLINK Technology which has been conceived and developed by US based Steel making giants Midrex Technologies, Inc.
He expressed his satisfaction over the awarding of the EPC Contract to Kobe Steel Ltd - one of the pioneering companies in the steel making industry. "We in no uncertain terms wish to express our extreme delight in having engaged Kobe Steel Ltd as our EPC Contractors for the execution of the DRI Plant which we anticipate to be duly commissioned by the second quarter of year 2008.
Ghaith Al-Ghaith appreciated the economic policies of Oman, its unflinching support and cooperation rendered to date for the purposes of materializing a project of this magnitude. "We extend our sincere gratitude to His Majesty Sultan Qaboos bin Said and all ministries for their resolute support and continuing cooperation," he said.
The ceremony was also attended by a high level delegation of Kobe Steel Ltd. led by Shohei Manabe, head of steel division, Hideaki Tanaka, General Manager, James D. McClaskey, President and COO of Midrex Technologies, Inc. and heads of various businesses in Oman.
© The Saudi Gazette 2006
