Al Gaith Holdings: Integrated Iron and Steel Project in Sahar Industrial Zone

摘要

During the second half of January 2005 signature has been made in Muscat, Oman Sultanate, of a contract for setting up of an integrated iron and steel project in Sahar port region at a total cost of 750 million U.S. dollars. The contract was signed on 17.1.2005 by the Omani Minister of Economy Sheikh Mohammad Ali Al Maki from the Omani side and by Mr. Al-Gaith, Chairman of the Emirates Holding Al Gaith Company on behalf of this company. The project will be executed on three stages extending until 2010. It is hopeful that production of the first stage will start in the first quarter of 2007. When the three stages are completed the annual production capacity of this project will reach 4 million tons of iron ore pellets and hot-bri-quetted iron. It will have 588 workers and will consume 0.33 million cubic meters of natural gas for 20 years.