Oman a strategic choice for green iron: Meranti
Singapore-headquartered low-carbon steel manufacturer Meranti Green Steel (MGS) is firming up plans to establish a Hot Briquetted Iron (HBI) facility at the Special Economic Zone (SEZ) in Duqm on Oman's southeast coast.
Phase 1 of the project targets a production capacity of 2.5 million tonnes per year of HBI, around 60 per cent of which will be shipped as feedstock for Meranti's proposed green steel plant planned at Rayong in Thailand. The latter project, slated for commissioning in 2028, will produce 2.5 million tonnes per year of hot-rolled steel earmarked for industrial consumers of green steel across Southeast Asia. The remaining 40 per cent of HBI from the Oman project is proposed to be supplied to Meranti's offtake partners distributed around the globe.
In a post on Monday, July 29, 2025, Meranti described the Oman project as a 'strategic pillar of its integrated value chain.' It also outlined several reasons for selecting Oman—and Duqm in particular—as the site for its HBI production facility.
Chief among these factors, it stated, is access to competitive energy: 'Oman offers reliable, cost-competitive natural gas and a rapidly developing green hydrogen ecosystem. This makes it an ideal location for producing direct reduced iron (DRI) at scale.'
Equally significant, Meranti noted, are Duqm's infrastructure and export readiness. 'The Duqm Special Economic Zone provides industrial land, deep-water port access, and efficient permitting frameworks. This supports fast-track development and efficient global distribution.'
Additionally, Oman's location enables efficient supply to Meranti's steel plant in Thailand, as well as to European offtakers seeking low-emission hot briquetted iron (HBI). Shipping HBI from Oman improves logistics and lowers emissions compared to traditional supply routes, the company stressed.
Earlier this month, Meranti revealed that it had received tentative commitments from the Omani government for the supply of natural gas for the HBI project in Duqm. 'With gas secured and green hydrogen partnerships advancing, Oman is now fully positioned to become a critical enabler of our mission to decarbonize iron and steelmaking,' the company stated in its most recent post.
'We are working closely with Omani authorities and our raw material partner, who are committed to sustainable industrial growth. Their support is foundational to our success,' the company added.
A relatively recent entrant into the steel sector in Southeast Asia, Meranti aims to leverage the latest advancements in steelmaking and digital technologies to maintain a competitive edge. A key pillar of this strategy involves establishing geographically decoupled Hot Briquetted Iron (HBI) supply chains, sourcing from highly competitive regions such as Oman and Western Australia. This approach enables Meranti to site HBI plants in locations with strong access to competitively priced natural gas and emerging green or blue hydrogen, while situating steel production facilities closer to end-user markets.
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