Japanese steel giant Kobe Steel will explore the commercialisation of manufacture and sale of direct reduce iron (DRI) produced through its proprietary MIDREX Process technology.
Having signed a Memorandum of Understanding (MoU) with the Public Authority for Special Economic Zones and Free Zones (OPAC), Kobe Steel and project partner Mitsui & Co., Ltd (Mitsui) will move forward with a feasibility study located in the Special Economic Zone at Duqm in Oman.
A country rich in natural gas, Oman promotes renewable energies and green hydrogen based on Oman Vision 2040, a government scheme which aims to make the country a regional hub by developing a new industry other than oil and gas.
Responsible for around 8% of global CO2 emissions, the steel industry is working on reducing its carbon footprint to address climate change.
By collaborating on the Low-CO2 Iron Metallics Project, the partners aim to produce five million tonnes of DRI to be used as a feedstock for steelmaking.
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