TOKYO -- Kobe Steel and trading house Mitsui & Co. are studying building a factory in Oman for direct reduced iron, a steel feedstock with a relatively small carbon footprint, under plans announced Monday.
The two Japanese companies signed a memorandum of understanding with Omani authorities the day before and also inked a contract with a local company to secure a site for the project. They look to decide whether to move forward in about a year.
