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WORK on the RO77 million ($200 million) Phase Two expansion of the Sohar steel plant has started, with the 1.5-million-tonne-capacity plant having come on stream in January.
Phase Two development will add an electric arc furnace, ladle furnace and continuous casting machine (billet/bloom caster) to the project. An additional RO308 million ($800 million) will be spent on expanding plant capacity to 3.6 million tonnes per annum in Phase Three.
Indian company Jindal Steel and Power Limited bought Oman-based Shadeed Iron and Steel Company for $464 million last year in a bid to expand its reach in to the Middle East and North African (Mena) regions.
