Oman’s Duqm Special Economic Zone has signed an investment agreement with Egyptian steel fabrication firm FMC-Ferrometalco Steel Construction to build a heavy steel structures manufacturing facility, part of a broader $7.5-billion package of industrial deals announced by the Public Authority for Special Economic Zones and Free Zones (OPAZ) last month.
The signing “is a commitment to building world-class steel manufacturing capabilities in one of the most strategically significant industrial hubs in the Middle East,” said the company in a LinkedIn post.
“Duqm’s unique positioning, infrastructure, and investment-friendly environment make it the ideal home for our new manufacturing facility. We are excited to contribute to Oman’s Vision 2040 by driving local industrialisation, creating quality jobs, and delivering high-grade steel structures to regional and global markets,” it added.
FMC-Ferrometalco and OPAZ officials at the signing ceremony in Oman.
The project, to be developed by the company’s Oman-based venture DSD Ferrometalco Steel Construction, will be built on a 39,000-sq-m site in the Special Economic Zone Authority at Duqm (SEZAD) and is expected to involve an investment of RO10 million ($26 million) in its first phase.
The facility will be equipped with advanced industrial technologies and is designed to produce up to 25,000 tonnes of steel structures annually for the energy and infrastructure sectors. Products will include structural steel, pressure vessels, industrial tanks, piping systems and precision engineering works for large-scale, complex and high-value projects.
Ferrometalco aims to serve the domestic Omani market as well as projects across the GCC region and East Africa, targeting the energy, renewable energy, oil and gas and infrastructure sectors.
In Saudi Arabia, FMC Ferrometalco recently completed steel fabrication of tower cranes.
The plant is expected to enter commercial operation within 18 months from the start of construction, with production processes covering cutting, rolling, welding, drilling, shot blasting and painting.
In recent years, Duqm has attracted billions of dollars in new investments across green hydrogen, steel, chemicals, energy and battery materials, reinforcing its role as a regional industrial and logistics hub.
The Port of Duqm provides direct access to Gulf and international markets, supporting both manufacturing and export activities.
The investment is framed as a contribution to Oman’s Vision 2040, with the company highlighting its commitment to local industrialisation, creation of quality jobs and delivery of high-grade steel structures to regional and global markets.
FMC Ferrometalco performed trial assembly through to derrick assembly, working together with Zeeco Middle East and Zeeco.
Ferrometalco, established in 1979 through a German-Egyptian partnership, offers integrated engineering, procurement, manufacturing and construction (EPMC) services for industrial, energy, infrastructure and renewable energy projects across the Middle East, Africa and Europe.
FMC Ferrometalco which has been in business for 44 years with a long-standing reputation, also holds a 51 per cent stake in AI-Kaabi Steel, a manufacturer and coating specialist based in Dammam, Saudi Arabia.
The company operates manufacturing facilities in Egypt, Saudi Arabia and Oman, with an annual production capacity of approximately 134,000 tonnes, and specialises in structural steel, heavy fabrication, storage tanks, pressure vessels and complex industrial installations.
It has recently completed steel fabrication of tower cranes and performed trial assembly through to derrick assembly, working together with Zeeco Middle East and Zeeco, both in Saudi Arabia.