Tata Steel and Al Bahja Group have formed a joint venture to develop Uyun Limestone deposits in Oman, with Tata Steel holding a 70% stake in the project.

Information on the Target

Tata Steel Limited has partnered with the Al Bahja Group, a prominent business entity in Oman, to establish a Joint Venture Agreement (JVA) aimed at developing the Uyun Limestone deposits located in Salalah, Oman. Under this partnership, Tata Steel will maintain a 70% stake in Al Rimal Mining LLC, the entity responsible for executing the project. This venture symbolizes a significant collaboration aimed at leveraging Tata Steel’s mining expertise alongside Al Bahja Group's local insights.

Al Rimal Mining LLC will specifically oversee the development and operation of the limestone mine, marking an important advancement in Oman’s mineral resource sector. The JVA was formalized in a signing ceremony attended by key figures, including Mr. Ajit Hamlai, Chairman of Al Bahja Group, and Mr. B Muthuraman, Managing Director of Tata Steel, highlighting the importance of the endeavor for both parties.

Industry Overview in Oman

The mining industry in Oman has gained substantial attention over the past few years, driven by the country’s rich mineral resources, particularly in limestone, which is essential for construction and industrial applications. The government has enacted favorabl