Brazilian mining giant Vale is moving toward a final investment decision in 2026 on a $5 billion low-carbon steel mega hub in Oman’s Duqm Special Economic Zone, according to media reports.
The project aims to establish an integrated green steel production complex, leveraging Oman’s strategic location, logistics infrastructure, and access to energy resources. The facility is expected to serve both domestic demand and export markets.
A core focus of the project is reducing greenhouse gas emissions through advanced steelmaking technologies, supporting Oman’s economic diversification away from oil and gas. If completed, the Duqm hub could strengthen Oman’s role as a regional manufacturing and logistics center and serve as a model for low-carbon industrial development in the Middle East.
VietnamSteel by Hoa Sen Group
