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09 Jun 12 Metkore to invest $80m in Ferro alloy plant at Sohar Freezone

By Bader al Kiyumi — MUSCAT — To set up a 108 MVA Ferro chrome plant spread across 20 hectares of land at Sohar Freezone at a cost of $ 80 million, the Port of Sohar inked a pact with the Metkore Alloys and Industries. The leading Indian company has completed the land lease agreement with Sohar Freezone yesterday. Ferro chrome is a key input material for stainless steel production. The company has already appointed consultants to carry out technical and environmental studies for the project. The Ferro chrome plant will become operational in 2014.

The pact inked by Shaikh Saad bin Mohammed al Mardhouf al Saadi, Sports Affairs Minister and Chairman of the board of the Port of Sohar and Prahsant Boorugu, Managing Director of Metcore. The company is expected to generate direct employment for about 500 people. Metkore Company along with its associate companies currently operates two Ferro alloy plants of capacities 15 MVA and 28 MVA in India. It has also undertaken an expansion to add another 140 MVA capacity in the next two years in India.

With this new establishment Freezone Sohar gives further rise to nominating itself as the steel hub in the Middle East. The availability of the upstream steel industries in the port, the establishment of various Ferro alloy facilities in Freezone Sohar and the last week signed stainless steel company puts Oman front seat as a location for downstream steel fabrication and distribution.

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