MUSCAT - Minerals Development Oman (MDO) has signed a landmark partnership agreement with India’s JSW Group to develop the South Minerals Project, one of the country’s most significant industrial minerals ventures, valued at RO 204 million.

The project will establish an integrated value chain for the extraction of gypsum and limestone, supported by a dedicated marine terminal at Shuwaimiyah in the Wilayat of Shalim and the Hallaniyat Islands. The terminal will have an annual handling capacity of up to 27 million tonnes, reinforcing the national port network and strengthening supply chains for Omani exports to regional and global markets. The initiative is closely aligned with Oman Vision 2040’s objectives for economic diversification and industrial development.

Spanning three concession zones covering 1,500 sq km, the project is backed by proven reserves confirmed through extensive exploration by MDO in recent years. Once fully operational, the quarries are expected to produce 30 million tonnes of gypsum and limestone per year, significantly enhancing Oman’s exports of industrial minerals and supporting new logistics and industrial opportunities, particularly in Dhofar Governorate.

With sizeable mineral reserves and well-developed infrastructure, the development is also positioned to attract downstream industries and stimulate local value chains. JSW Group was selected as the strategic partner based on its technical strength, financial capability, and global expertise in iron and steel, metals, energy, infrastructure, and related sectors.

Abdulsalam bin Mohammed al Murshidi, President of the Oman Investment Authority, said the South Minerals Project represents Oman’s proactive investment approach in building a competitive mining sector across the full value chain.

The partnership, he added, will help attract foreign investment, accelerate sectoral development, and reinforce national diversification goals.

Dr Badar bin Saud al Kharusi, Chairman of MDO, explained that the project comprises two major components: the construction of a port dedicated to exporting gypsum and dolomite, and the mining operation itself — the largest of its kind in Oman. He added that the project will also host new factories that will create employment opportunities for young Omanis.

Engineer Matar bin Salim Al Badi, CEO of MDO, emphasised that the initiative marks a major milestone in the company’s long-term strategy to expand mining industries and strengthen Oman’s logistics capabilities. He noted that the project will boost the competitiveness of Omani exports, open access to new markets, and deliver tangible economic value.

The Shuwaimiyah marine terminal, he added, directly supports national plans to improve maritime transport efficiency and supporting infrastructure.

Rankesh Roy, CEO of JSW Infrastructure, described the partnership as a key step in deepening the company’s presence in the Middle East. He highlighted Oman’s favourable investment climate, strong regulatory framework, and supportive investor environment as major strengths that will underpin the project’s success. He added that JSW remains committed to developing world-class maritime infrastructure that delivers sustainable value for all stakeholders.

2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).