Muscat: Vale S.A. company today signed a land reservation agreement with the Port of Duqm Company S.A.O.C. and a memorandum of understanding (MoU) with Marafiq to establish an integrated industrial complex (Mega Hub) to produce low-carbon products to the steelmaking industry in the Special Economic Zone at Duqm (SEZAD).
The agreement and the MoU were signed by Eduardo Bartolomeo, Vale’s CEO, Reggy Vermeulen, Port of Duqm’s CEO and Eng. Abdullah Mohammed Al Hashmi, Managing Director of Marafiq.
The land reservation agreement commissions joint studies to build a Mega Hub in Oman. Meanwhile, the memorandum aims to provide the project with access to all the utilities and services required for its operations, while promoting the use of clean energy and green hydrogen at the port of Duqm.
Eng. Ahmed Hassan Al Dheeb, Deputy Chairman of the Public Authority for Special Economic Zones and Free Zones said that the project is expected to produce raw materials for steel industries. All parties involved in the project, he pointed out, take keen interest in enhancing the use of clean energy and green hydrogen in the facilities that will be established.
On his turn, Eduardo Bartolomeo, Vale’s CEO said, “The signing of these agreements marks a significant milestone in establishing Vale as a leader in sustainable mining,”
He added, “We are thrilled about the prospects the planned Mega Hub presents in supporting the steel industry’s drive towards greener operations. The Port of Duqm, a growing key industrial hub in the Sultanate of Oman, is perfectly positioned to support our expansion plans, and we are excited to demonstrate the potential of Oman and Duqm as an attractive proposition for foreign direct investment.”
Further, Reggy Vermeulen, CEO of Port of Duqm said, “We are pleased that the Mega Hub will be established in the Port of Duqm. The strategic location of our port on key international trade routes, its proximity to large regional markets including India, Africa and GCC countries, and its world-class infrastructure make it an ideal location to establish such major industrial projects.”
“The Port of Duqm is also set to be a future hub for green hydrogen and its derivatives,” Vermeulen added. “We are optimistic that it will quickly emerge as a destination of choice for green steel manufacturing.
Meanwhile, Marafiq’s Managing Director Eng. Abdullah Mohammed Al Hashimi stated that Marafiq will provide the project with vital utilities services, including power.
Moreover, Abbas Irshad Al Lawati, CEO of Invest Oman lounge, stated that the lounge is a single window that provides major investors with integrated services and in cooperation with relevant government and private entities, presents to them investment opportunities with a total value exceeding RO 1 million.
The Mega Hub initiative contributes to Vale’s commitment to reduce 15% of net Scope 3 emissions by 2035. Additionally, Vale seeks to reduce its Scope 1 and 2 emissions by 33% by 2030 and achieve net-zero by 2050.
The development of the Mega Hub project is expected to produce HBI and steel products to supply both the local and export markets, while significantly reducing CO2 emissions. The production of HBI using natural gas emits around 60% less CO2 when compared to more traditional methods. In the future, the replacement of natural gas with hydrogen and the usage of renewable energy could eliminate CO2 emissions. – ONA
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