Jai Dadi advances USD 16 mn Egypt ferroalloys plant

Jai Dadi plant

Kolkata-based Jai Dadi Group has kicked off construction on its ferroalloys plant in Egypt’s East Ismailia Industrial Zone, also known as the Suez Canal Economic Zone (SCZone), as per a post on X. The INR 1.5 bn (USD 16 mn) Nile Ferro Alloys plant adds an Indian metals manufacturing project to Egypt’s fast-growing industrial corridor.

Where it fits: The plant will produce silico-manganese, process ferroalloys, and manufacture intermediate iron products from scrap metal. Its output will feed infrastructure, heavy engineering, and railway component manufacturing.

East Ismailia is part of Egypt’s Sinai development plan. The SCZone is working to position the area as a hub for construction materials and ferroalloy industries, with output aimed at domestic infrastructure needs and export markets.

Meranti taps L&T

L&T takes Oman FEED role: Singapore-based Meranti Green Steel has appointed Indian engineering and infrastructure conglomerate Larsen & Toubro (L&T) as project delivery partner for the front-end engineering and design stage of its planned green iron project in Duqm, Oman, Meranti said on LinkedIn.

The work will be handled by L&T’s minerals and metals unit for project design, layout, and cost estimates before the project moves to the construction phase.

The mandate adds to L&T’s existing MENA pipeline. The region accounted for 40% of the company’s total order book and 34% of revenue in FY 2026, making it L&T’s largest overseas market. The company was awarded the USD 992 mn Kuwait oil infrastructure contract last month.

The Oman project: Meranti is planning a 2.5 mn tons per annum direct-reduced iron and hot-briquetted iron facility in the Special Economic Zone at Duqm. The project is aimed at producing green iron for steelmakers and traders.

MSC’s USD 1.4 bn Adani wager

Mediterranean Shipping Company (MSC) Group is set to pick a 49% stake in Adani Group’s Vizhinjam Port. MSC will pay USD 1.39 bn for the stake, valuing the shipping hub at about USD 2.8 bn, according to a stock exchange filing. Adani Group will retain a 51% stake, majority board control, and continue to consolidate the asset.

Why it matters: As trade volumes between India and the GCC continue to expand, approval of the investment could elevate Vizhinjam Port as a critical node in an increasingly interconnected India-Gulf maritime corridor. Traditionally, Gulf SWFs have poured bns in India’s roads, airports, renewable energy, and logistics networks. MSC’s latest wager adds to a growing list of global investors taking long-term positions in India’s infrastructure sector.

Pending regulatory approvals, the transaction will be made in two tranches, with an initial payment of USD 539 mn for the equity acquisition and a further USD 858 mn tied to the port’s ongoing expansion, which is expected to conclude by December 2028.