Shadeed iron and steel Plant on track to start in third quarter of 2008
Last Update: 02/08/2006 12:33:18 Trade Arabia - Al Gaith Holdings has announced that its Dh2.75 billion ($750 million) iron and steel plant in Oman is on track to start operations in the third quarter of 2008. Brazil's Samarco Mineracao will supply iron ore pellets for the steel plant. Financing for the unit is now in place, said a Gulf News report. Shadeed Iron and Steel, the fully-owned company of Al Ghaith Holdings in Oman's Sohar Industrial Port will produce some 1.5 million tonnes per year of steel billets. "We have signed an agreement with Samarco for supply of iron ore pellets, the most strategic raw material and supplies are to begin soon," Gaith Al Ghaith, vice-chairman of Al Ghaith Holdings said. Billal T Matarneh, general manager of Shadeed Iron and Steel, said $85 million has been invested in a quay facility for material handling. "Our agreement with SAMARCO will cover major portion of Shadeed's annual demand in iron ore pellets and by this we feel ourselves more confident in moving ahead with the execution of the project at Sohar," said Bilal Mattarneh, General Manager of the Shadeed Iron & Steel. The company's total production will be about 14 million tonnes per annum of which 4 million tpa will be exported to this region.
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Shadeed iron and steel Company
Oman - Shadeed iron and steel Plant on track to start in third quarter of 2008