Companies

Metkore Alloys to invest $80 m in Oman plant

PTI Dubai | Updated on June 11, 2012 Published on June 11, 2012

Metkore Alloys and Industries is set to build a world-class 1,65,000 tonnes per annum capacity ferro chrome smelter project in Oman with an envisaged investment of $80 million.

This is the third ferro chrome project coming up in Sohar free zone, local media reports said. The project is expected to start in October, and will be completed within 18 months.

According to reports, a land lease agreement was signed by Sheikh Sa’ad bin Mohammed Al Mardhouf Al Sa’adi, Chairman of Port of Sohar, and Mr Prashant Boorugu, Managing Director of Metkore Alloys & Industries.

Metkore is negotiating with a local firm for a joint venture agreement, but no agreement has been signed so far.

The ferro chrome plant will become operational in 2014 and is expected to generate direct employment for about 500 people. The company has already appointed consultants to carry out technical and environmental studies for the project.

Omanisation is the prime objective of the company and all efforts will be taken to train the local Omani nationals and appoint them to operate the plant profitably, the company said.

Further, the low grade chrome ore available in Oman will be beneficiated and put to gainful use thereby adding value to the mineral resources available in the country.

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Published on June 11, 2012
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