Ferrometalco, a company established through a German-Egyptian partnership, has signed an investment agreement to build a heavy steel structures manufacturing facility in Oman's Duqm Special Economic Zone. The first phase of the project is expected to require an investment of approximately OMR 10 million ($26 million).
The facility, which will be built on a 39,000-square-meter site, is planned to manufacture heavy steel structures for the energy, renewable energy, oil and gas, and infrastructure sectors. Through the new plant, the company aims to serve both the domestic Omani market and projects across the Gulf region and East Africa.
According to Ferrometalco officials, Duqm's strategic location, advanced port infrastructure, and investor-friendly industrial environment were key factors behind the investment decision. The company also highlighted the region's proximity to major international trade routes, which offers significant advantages for both manufacturing and export activities.
The investment marks another milestone in the wave of industrial projects being developed in Duqm as part of Oman's economic diversification strategy. In recent years, the region has attracted billions of dollars in new investments across green hydrogen, steel, chemicals, energy, and battery materials, further strengthening Duqm's position as a regional industrial and logistics hub.
Market sources believe that Ferrometalco's investment will help enhance the regional supply of high-value steel structures used in power plants, storage tanks, industrial facilities, and large-scale infrastructure projects.
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