Vale and Saudi Arabia Partner on Green Steel Mega Hub
[tintuc]
Brazilian mining giant Vale and the Royal Commissions of Jubail and Yanbu have signed a land reservation agreement to establish a major green steel hub at Ras Al-Khair industrial city, located on Saudi Arabia's eastern coast, 100 km north of Jubail.
The project, planned for development in two phases, has the potential to produce up to 12 million metric tons of cold-briquetted iron ore (CBI) annually. CBI is considered an important alternative in accelerating the steel industry's transition to net-zero emissions.
Rogério Nogueira, Vale's executive VP for new business, emphasized the significance of the agreement, stating, "This agreement is more than a milestone for Vale; it represents our first step towards reshaping the future of the steel industry in the Middle East. The Khair Mega Hub will serve as a model for integrating advanced technologies with sustainable practices, driving not only environmental impact but also economic value."
This project is part of Vale's broader strategy to develop integrated steelmaking ecosystems in key markets. This strategy includes similar mega hubs planned for Oman and the UAE, which will act as regional catalysts for green steel production and foster collaboration between Vale, steel producers, and other industry stakeholders.
Vale expects these hubs to contribute significantly to its sustainability goals, including a 15% reduction in net scope 3 emissions by 2035 and a 33% reduction in scope 1 and 2 emissions by 2030.
[/tintuc]
Brazilian mining giant Vale and the Royal Commissions of Jubail and Yanbu have signed a land reservation agreement to establish a major green steel hub at Ras Al-Khair industrial city, located on Saudi Arabia's eastern coast, 100 km north of Jubail.
The project, planned for development in two phases, has the potential to produce up to 12 million metric tons of cold-briquetted iron ore (CBI) annually. CBI is considered an important alternative in accelerating the steel industry's transition to net-zero emissions.
Rogério Nogueira, Vale's executive VP for new business, emphasized the significance of the agreement, stating, "This agreement is more than a milestone for Vale; it represents our first step towards reshaping the future of the steel industry in the Middle East. The Khair Mega Hub will serve as a model for integrating advanced technologies with sustainable practices, driving not only environmental impact but also economic value."
This project is part of Vale's broader strategy to develop integrated steelmaking ecosystems in key markets. This strategy includes similar mega hubs planned for Oman and the UAE, which will act as regional catalysts for green steel production and foster collaboration between Vale, steel producers, and other industry stakeholders.
Vale expects these hubs to contribute significantly to its sustainability goals, including a 15% reduction in net scope 3 emissions by 2035 and a 33% reduction in scope 1 and 2 emissions by 2030.
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