STRONG and versatile, steel is ubiquitous. The rugged beauty is found everywhere, from bridges, buildings and tunnels to planes, trains and cargo ships. Steel is durable, dependable and easy on the eye, offering much more than meets the eye. The material of choice for many a vital sector, steel empowers and embellishes our lives in a way that is functional and fashionable.
Strategically located in the industrial port of Sohar, with a dedicated 600-metre jetty, Jindal Shadeed Iron & Steel (JSIS) is the largest privately owned integrated steel producer and the largest private low carbon intensity steel producer in the GCC.
Committed to producing ‘Steel…that bridges your trust’, JSIS has set the bar high, redefining its benchmark as the largest steel producer in Oman.
It has, since its inception in 2010, enriched its credentials as the preferred and trusted supplier of high quality steel products to clients in the fast-growing local economy, as well as to top dealers in the UAE and Saudi Arabia, and to countries beyond the GCC, including Europe, the Far East, China, Canada and Australia.
The year 2023 marks the start of a new chapter for JSIS, with ambitious plans under way for a 5-million-ton green hydrogen-ready steel plant in the Special Economic Zone at Duqm.
This will be the largest green hydrogen plant in the world, and the first-of-its-kind facility in the GCC region to produce premium quality auto-grade flat products that cater to industries in auto, wind turbine and domestic appliances sectors around the world.
JSIS has set a precedent in the region with not only its wide range and quality of products but also its commitment to the environment and the community in which it operates. It has relied on modern iron and steel making technologies to ace the arena of low cost and environment-friendly supply chains of steel making. This strategic environmental approach to business has won it global recognition; today it is counted among companies that have the world’s lowest carbon intensity footprint.
The company has, time and again, demonstrated its intent to bolster Oman’s economic diversification and leverage its environmental sustainability targets. It continues to play a pivotal role in establishing Oman as a powerhouse in the field of steel production on the world map.
“As we keep pace with the dynamically evolving goals of Oman, we strive to maintain and promote our reputation as a reliable partner that’s invested in building a resilient, self-reliant nation,” Harssha Shetty makes his point in a freewheeling interview with Business Plus, throwing the spotlight on the company’s ongoing endeavours to meet the targets and partner with Oman in realising the objectives of Vision 2040.
Excerpts from the interview:
What is the core philosophy of Jindal Shadeed Iron & Steel Company?
Our core philosophy centres on delivering high-quality steel products that meet the ever-growing needs of our customers, while also contributing positively to society and constantly developing ways to positively contribute to the environment. We aim to spearhead significant development in the industry while transitioning to a greener circular economy as part and parcel of our comprehensive In-Country Value (ICV) strategy. As we keep pace with the dynamically evolving goals of Oman, we strive to maintain and promote our reputation as a reliable partner that is invested in building a resilient, self-reliant nation.
What is on the top of your agenda to establish Jindal Shadeed’s alignment with Oman’s Vision 2040?
One of the key economic pillars of Oman’s Vision 2040 is to diversify away from oil-based industries. Steel is a huge contributor to the nation’s GDP in the non-oil sector and is the backbone of a country’s development in terms of infrastructure. The Sultanate wants to achieve net-zero carbon emissions by 2050 and we are working on assets that will help us build in this direction.
Jindal Shaheed is aligning its comprehensive ICV agenda with national priorities, alongside ongoing investments in assets and technology to advance the Oman Vision 2040 agenda, including driving economic diversification and pushing towards environmental sustainability targets. This comprises generation of employment and business opportunities, nurturing a skilled workforce and supporting local industries. Innovation and progressive thinking are key to this outlook; we are looking at how best we can play our part in creating a more sustainable local ecosystem.
Our contribution to Oman’s GDP has continued to rise, with our revenue equating to 1.7% in 2021-22, stimulated by a steady series of acquisitions, commissions and expansions since 2010. To date, more than $1.2bn has already been spent on our Direct Reduced Iron Plant, Steel Melt Shop and Rolling Mill projects.
We operate some of the most advanced and efficient facilities in the industry across the region, and we are continuously striving to improve our operations to meet the highest standards of quality and sustainability.
What are your plans for the year 2023?
Looking to the future, we have committed to more than $5bn in additional investments for significant downstream value addition, with a similar amount annually towards in-country value addition. This is in addition to the creation of more than 7,000 jobs, more than 1,000 MW in new solar and wind power capacity, a 9% increase in Oman’s non-oil GDP, and a 29% increase in Oman’s non-oil exports.
How does JSIS propose to put Oman on the global map of steel manufacturing?
Oman has many logistical advantages and progressive policies that make it a logical choice to set up greenfield projects. Strategically located in the industrial port of Sohar, with a dedicated 600-metre jetty, Jindal Shadeed is the largest privately owned integrated steel producer and the largest private low carbon intensity steel producer in the GCC.
Our legacy is unique. Our $22bn company contributes to the industrial, economic and social ecosystem of the country. We have built a strong reputation for delivering high-quality steel products with a production capacity of 2.4 million tons per annum (MTPA) from our Steel Melt Shop Plant, 1.4 MTPA from our Rolling Mill and 1.8 MTPA from our DRI Plant.
What sets Jindal Shadeed Iron & Steel apart from other industries in the market? Where does the company stand in the regional steel sector?
Our quality products – such as our Hot Briquetted Iron (HBI); our Continuously Cast Square Billets with quality industry specifications (ASTM, BS, EN, etc.) which can be tailor-made to customer requirements; our Continuously Cast Round Billets that can be customised and that meet international standards (API, EN, ASTM, etc.); and our Reinforced Steel Bars that are embedded in concrete to improve overall strength and meet international standards and grades — set us apart from our competitors.
The company also operates a strong corporate social responsibility programme, most recently demonstrated by the ‘Steel of Oman’ campaign, which highlighted the Sultanate’s passion for football and its impact on the community. Furthermore, a partnership with the Oman Football Association (OFA) led to the opening of nine under-14 football training centres. JSIS has also collaborated with Ali Al-Habsi’s Academy for Football. Youth and sports remain at the centre of our CSR programmes.
What is your take on sustainable energy resources? How is JSIS incorporating the proposed transition towards green energy?
We are committed to helping catalyse a sustainable future, with countless significant current initiatives and future plans. We currently boast 40% lower carbon emissions than the global average and are driven by global best efficiencies on specific gas consumption and power consumption in DRI and EAF operations. Sidewall injection of oxygen in our electric arc furnace reduces electrical power used. In the future, our DRI plant will produce ‘green’ steel using hydrogen.
We have pledged to a 15% reduction in CO2 emissions by 2030 and have planted 15,000 trees within our site and around the periphery. Solar parks will power our facilities. In addition, we are working hard on energy-saving and greenhouse gas reduction measures; we recycle slug generated from our electric arc furnace; we use wastewater for monitoring greenery; and we comply with the European Union’s Best Available Technologies (EUBAT) reference.
Our works on such issues have already earned the company numerous sustainable development certificates from international organisations such as the UK Cares, BRE and SGS.
Most impressively, our operations positively contribute to no less than nine of the sustainable development goals, the international blueprint for creating a better world by 2030.
Any tips, guidelines for young Omanis aspiring to join your organisation?We place a large focus on the development of our people. We believe that our employees are our greatest asset and invest heavily in their training and development, and look to attract and retain the best talent in the industry. And we remain committed to our Omanisation programme, reaching a total of 51% as of December 2022. We value employees who are passionate about their work and committed to making a positive difference in the world. So, if they are keen to build a rewarding career with a company that provides employees with plentiful opportunities to develop their skills and knowledge, including continuing education and on-the-job training, to reach their full potential and make a lasting positive contribution to both the nation and the world, look no further.
