MDO, JSW Group sign deal for RO204mn South Minerals Project

18/11/2025 04:57 AST

Minerals Development Oman (MDO) on Monday announced the signing of shareholder agreements with India's JSW Group, making it a key partner in the South Minerals Project - one of the most promising ventures in the industrial minerals sector. The move reflects Oman's ambition to strengthen its presence in the global minerals trade.

The South Minerals Project involves an investment of RO204mn to develop an integrated value chain for gypsum and limestone quarrying, alongside the construction of a deepwater minerals berth at Al Shuwaimiyah, located in the wilayat of Shalim and the Hallaniyat Islands, with an annual handling capacity of 27mn tonnes.

The project will enhance the integration of Omani ports and streamline supply chains, making Omani exports more competitive in regional and international markets. By improving efficiency and supporting economic diversification, the development aligns directly with the objectives of Oman Vision 2040.

Spanning three concession areas covering a total of 1,500 sqm, the South Minerals Project contains confirmed deposits of gypsum and limestone, identified through extensive exploration activities carried out by MDO over recent years. The quarries are expected to achieve an annual production capacity of 30mn tonnes of gypsum and limestone, boosting industrial mineral exports, supporting Oman's industrial base, and generating additional revenue for the Sultanate.

In a statement to Oman News Agency, Abdulsalam bin Mohammed al Murshidi, President of Oman Investment Authority, said, "The South Minerals Project exemplifies Oman's investment-driven strategy. This model seeks to accelerate growth across the mining value chain, attract foreign capital, enhance this key industry, and drive broad economic diversification in Oman."

Mattar Salim al Badi, CEO of Minerals Development Oman, added, "The South Minerals Project represents a pivotal step in our strategy. It enables us to develop the mining industry and enhance national logistics capabilities. The project serves as a hub for generating tangible economic value and increasing the competitiveness of Omani exports. The development of the deepwater minerals berth at Al Shuwaimiyah aligns with national plans to improve shipping efficiency and upgrade sector infrastructure."

Rinkesh Roy, CEO of JSW Infrastructure, said, "We are pleased to enter into a strategic partnership with Minerals Development Oman. Oman provides a stable regulatory framework and robust investor support, enhancing the project's potential for long-term success and economic value. Our association with MDO demonstrates our commitment to building world-class maritime infrastructure that delivers enduring value for all stakeholders."

The South Minerals Project will also open new logistical and industrial routes, enhancing the sultanate's competitiveness, particularly in the Dhofar Governorate. It is anticipated to create local employment opportunities, stimulate supporting industries, and foster sustainable economic growth in the region.

Benefitting from substantial mineral reserves and advanced infrastructure, the project is expected to enable the development of downstream industries. It will strengthen value-added supply chains, support regional industrial growth, and drive economic diversification, positioning the region for long-term prosperity.

Muscat Daily