Vulcan Steel, a privately held company of
industrialist Naveen Jindal,
is in talks with export credit agencies (ECAs)
of multiple countries to close $2.5 billion in funding for its upcoming green steel plant in
Oman, two people aware of the discussions told ET.
The plant will be built using funds exclusively from non-bank sources, said the
people cited above. In all, the company plans to invest more than $3 billion in
the Duqm-based project, a senior executive from the group said in an interview
earlier.