Vale, one of the world’s largest mining companies, has invested heavily in the creation of a major iron ore pelletizing complex at the Sohar Port and Freezone, as well as a flourishing local supply chain.
The firm, which is owned by an Omani-Brazilian joint venture, is celebrating its tenth year in service in Oman this month. Vale’s investment in Oman is a paradigm of the successful convergence of Vale’s strategic goals, the Omani government (represented by OQ Company), and Sohar Port and Freezone.
Over 10 years, Vale has invested more than $380 million with local companies during the project phase (2009-2011), which cost $2 billion and more than $1.2 billion investments with local companies from 2012–2020 as part of supply chain development.
In addition, it has spent over $10 million in sustainable and social responsibility initiatives between 2013 and 2020, as well as more than $85 million in ensuring environmentally friendly operations.
Vale launched the initial stages of its industrial complex at Sohar in April 2011, marking a high point in an era of big-ticket industrial investments. The project has emphasized the Sultanate’s strategic geopolitical location in the Middle East and the distinctive advantages of Sohar as a logistics hub and maritime gateway.
Adriano Mansk, CEO at Vale Oman said, “The Omani government is a strategic partner that has contributed to its success by facilitating a smooth transition into the country and allowing Vale to develop its business operations seamlessly. Besides that, SIPC has acted as an efficient and logistical partner helping to connect our maritime terminals in Brazil to customers in the region.”
“Over the last two decades, Sohar Port and Freezone has been able to occupy a leading market share in the region, benefiting from its strategic location and partnership with Port of Rotterdam, which is one of the largest ports in the world. We aim to share this experience, alongside the immense support extended by the government to the logistics sector, to further the businesses of our partners and tenants present within our complex. Together, we can work towards enhancing our contribution to the Sultanate’s GDP and the generation of job opportunities for citizens.”
Saleh Al Musalhi, Deputy CEO of Vale Oman stated, “Vale is a transformational company, one that transforms the environment where it operates. Vale is dedicated to sustainable development regardless of where it operates, identifying the countless opportunities for growth that are available while also recognizing the planet’s physical limits.”
“The company is committed to practicing and promoting these resources’ efficient use, investing in clean energy, and acting to mitigate the impact of its operations on climate change. The same is true for the Sultanate, where Vale has invested heavily in employing advanced technologies in its pelletizing and port operations to adhere to the environmental requirement according to the Environment Authority’s Environmental Regulations,” he further added.
Recently, Vale has funded the establishment of Liwa Slaughterhouse with its social investment arm, Jusoor Foundation, to serve the community with slaughtering service in a safe and hygienic place with the best standards.