Vulcan Green Steel, a flagship of the Jindal Steel Group, is on the verge of rewriting the narrative in the global steel industry with its ambitious endeavor – the construction of the world’s largest green hydrogen-ready steel plant in Oman’s Special Economic Zone at Duqm (SEZAD).
The groundbreaking ceremony, adorned with a symbolic ‘Eternal Green Tree’ planting, unfolded in the presence of key dignitaries, including Dr. Ali bin Masoud Al Sunaidy and Naveen Jindal, Chairman of Jindal Group. This monumental project aligns with Oman’s vision for Net Zero by 2050, positioning the nation as a trailblazer in sustainable steel production.
The initiation of a transformative chapter in Oman’s industrial landscape commenced with Vulcan Green Steel’s (VGS) ‘Green Pledge’ to construct a multi-phased steel mill in Duqm. This strategic move dovetails seamlessly with Oman Vision 2040, charting a course toward sustainable and eco-friendly steel production. The project marks a profound commitment to achieving Net Zero by 2050, aligning with the visionary goals set by His Majesty Sultan Haitham bin Tarik.
Venkatesh Jindal, Vice Chairman of Vulcan Green Steel, articulated the profound alignment between Oman’s conducive environment for green energy production and VGS’s vision for a greener future. The Sultanate’s government, characterized as progressive and visionary, has allocated substantial land parcels for renewable energy projects, providing a fertile ground for Vulcan Green Steel’s aspirations of greener steel production, set to commence before the close of this decade.
The Duqm project, slated for completion by 2026 with production kickstarting in 2027, signifies a leap forward in green steel production. The facility aims to establish a fully integrated green hydrogen-ready steel plant, boasting a production capacity of 5 million metric tonnes per annum (5 MTPA) of green steel. What sets this venture apart is its commitment to reducing CO2 emissions by approximately 85%, a stark contrast to the current global average. The project’s positive impact on global emissions reduction is estimated to reach a staggering 12 million tonnes per annum in CO2 savings.
At the heart of this transformative project lies a state-of-the-art steel facility poised to revolutionize eco-friendly industrial operations. The green steel produced will find applications in critical sectors such as automotive, wind turbine manufacturing, and consumer goods. The emphasis on sustainable practices echoes through the core of Vulcan Green Steel’s ethos, setting a benchmark for responsible industrial endeavors.
An integral facet of this groundbreaking venture involves the extensive integration of renewable energy sources in steel production. Harnessing the power of wind and solar energy for approximately 16 hours of daily electricity needs, VGS is actively exploring additional storage solutions. The goal is to ensure a continuous 24×7 supply of green energy, further underlining the commitment to sustainable and uninterrupted operations.