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Vale is set to make a Final Investment Decision in 2025 for a $5 billion low-carbon steel complex in Oman’s Special Economic Zone at Duqm, with construction anticipated to begin the following year. The facility will produce low-carbon iron ore concentrates and hot briquetted iron, significantly reducing CO₂ emissions, while also enhancing local logistics and job creation. Additionally, Vale is partnering with ACPG Jinnan Steel to develop Oman’s first iron ore concentration plant, valued at $600 million.