Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ) has signed a memorandum of understanding with Japanese steelmaker Kobe Steel, and Mitsui & Co., a trading investment company, to develop a low-CO2 iron metallics project.

The project, due to be constructed in the Special Economic Zone at Duqm (SEZAD), is expected to produce 5Mt of direct reduced iron (DRI) annually through the MIDREX Process. In the long run, the project targets further decarbonization through measures such as replacement of natural gas with hydrogen and carbon capture, as well as utilisation and storage, with a goal to expand production capacity.

Prior to the project being launched, Kobe Steel and Mitsui will conduct a detailed business study, with an aim to commence low CO2 iron metallics production by 2027. The product will be supplied to businesses in Asian and European markets.

Source: Gulf News