Brazilian mining giant, Vale, expects to complete the feasibility studies for its three planned green steel hubs in the Middle East next year.
A company spokesperson told Zawya Projects by email that the appropriate capacity for each hub is being studied and an investment estimate will be available for the project once the feasibility studies are completed by end of 2023.
Last week, the company announced plans for setting up three steel hubs at Ras Al Khair Industrial City, Saudi Arabia; Khalifa Economic Zones Abu Dhabi (KEZAD), UAE; and at Duqm Special Economic Zone, Oman, for producing significantly low carbon hot briquetted iron and steel products.
“These mega hubs shall supply different markets across the globe supporting the decarbonisation of the steelmaking industry,” the spokesperson said.
In September 2022, a Zawya report had stated that MENA can lead the world in green steel production given its low cost solar and wind resources and its dominant position as a producer of low emission steel using the Direct Reduced Iron-Electric Arc Furnace (DRI-EAF) technology.
(Reporting by Sowmya Sundar; Editing by Anoop Menon)