Naveen Jindal Group Targets December 2028 for Phase 1 Commissioning of Oman Green Steel Plant.

Jindal Steel Duqm, the Oman-based entity promoted by Naveen Jindal, is aiming to commission the first phase of its ambitious hydrogen-enabled green steel plant by December 2028. This initial phase will boast a production capacity of 2.5 million tonnes per annum (mtpa) of green steel.

Sources close to the development indicate that the second unit, referred to as DRI 2, is slated for commissioning by 2030, further expanding the plant's capabilities.

The entire project represents a significant investment of ₹25,000 crore (approximately $3 billion), which will be financed through a combination of debt and equity.

The state-of-the-art facility is designed to produce Hot Briquetted Iron (HBI) and direct reduced iron (DRI), both characterized by a low carbon footprint. These products are primarily intended for export, with a keen focus on catering to the European markets, where demand for sustainable steel solutions is rapidly growing.