Latest news with #Meranti
Observer
08-07-2025
- Business
- Observer
New green steel project planned in Oman
MUSCAT: Singapore-based Meranti Green Steel (MGS), a leading player in low-carbon steel production in the Asia-Pacific region, has announced further progress in its plans to invest in a major green steel project at the Special Economic Zone at Duqm (SEZAD) in southeastern Oman. Project capacity details and investment figures have not yet been disclosed. However, the company announced in a post on Tuesday, July 8, 2025, that it has received a provisional commitment for the supply of natural gas for the project from the Omani authorities. 'Meranti Green Steel has received the conditional gas allocation from IGC in Oman. With the project site confirmed and raw material supply in place, the foundation for our green iron production in Duqm is now established,' Meranti commented in the post, referencing the Integrated Gas Company (IGC)—the sole aggregator and supplier of natural gas in the Sultanate of Oman. The company further noted: 'Discussions with a range of potential green hydrogen partners are underway, and we are engaging closely with our financing partners, including KfW IPEX.' The latter refers to the import-export financing arm of KfW IPEX-Bank, a major German-based financial institution. The announcement underscores Duqm's rising international profile as a prime destination for investment in so-called 'hard-to-abate' sectors, particularly steel and aluminium manufacturing—industries traditionally associated with high carbon emissions. With several large-scale green hydrogen projects set to be implemented near Duqm, the anticipated availability of green hydrogen as a clean energy source is boosting the zone's attractiveness as a hub for low-carbon heavy industry. Jindal Duqm Steel (formerly Vulcan Green Steel)—part of India's Jindal Group—is already advancing construction work on the first phase of a 5 million tonnes per annum (mtpa) hydrogen-enabled green steel plant in Duqm, with an estimated investment of around $3 billion. In addition, two other international consortiums have announced plans to establish low-carbon iron projects in Duqm. Kobe Steel, in partnership with Mitsui & Co, has signed a memorandum of understanding (MoU) with Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) and the Port of Duqm Company to explore a low-carbon iron metallics facility in the SEZ. The project aims to produce 5 million tonnes annually of direct reduced iron (DRI), starting with natural gas and transitioning to hydrogen in the future. Similarly, Brazilian mining giant Vale has announced plans to invest in a Green Metallic Mega Hub in Duqm, intended to produce low-carbon DRI as feedstock for steel mills across the wider Middle East region. Meranti is concurrently developing an integrated green steel project in Rayong, Thailand, with a planned capacity of around 2.5 million tonnes per year. The facility, which integrates DRI, HBI (Hot Briquetted Iron), Electric Arc Furnace (EAF), and a Hot Strip Mill, will produce certified green Hot Rolled Coil (HRC) steel. Operations are scheduled to begin in late 2027 or early 2028. 'The (Oman) green iron project is central to our integrated green steel value chain. It will not only feed our low-emission steel plant in Thailand, but will also serve emerging HBI demand from European offtakers. With competitive access to gas and green hydrogen, we are confident that green iron from Oman can boost the competitiveness of European steelmakers and help secure jobs—not threaten them,' Meranti added in its post.
The Sun
07-07-2025
- Business
- The Sun
Malaysian timber exporters told to seek new markets to reduce reliance on US
KUALA LUMPUR: Malaysia's timber industry must explore new export markets to reduce dependence on the United States, said Malaysian Timber Industry Forum Association (TIF) president Wahid Jaafar. He said Malaysia could sustain export volumes and secure better prices by shifting its focus to markets such as the Middle East and India. 'With aggressive promotion, these are areas of real upside. I believe we have strong market opportunities there, and we can likely get premium prices,' he told SunBiz on the sidelines of the TIF Timber Levy Fund Book launch today. Wahid said there is market demand from the Middle East where Malaysia had not been aggressively promoting before. 'The Middle East imports from Europe and the US. So, probably, there is potential for good-quality species like Meranti and others,' he added. Wahid said India is also an important market where Malaysia can further promote its timber products. 'Their GNP (gross national product) is quite impressive,' he said in highlighting the country's economic strength. However, he acknowledged that logs and timber currently face a high import duty in India. 'If they can lower it to more reasonable levels, India can definitely become a major market for us.' Wahid shared that this year, the geopolitical situation is very tough for the industry, especially due to US President Donald Trump's tariffs. 'Most buyers in the US have advised not to ship or to delay shipments because of uncertainties. If the tax is 24%.' He added that the margin is already very small for exporters, 'Some go for mass-produced items, and with that, they have the numbers they can sell. If they start having to pay a tariff of 24%, it's very tough for the industry. A lot of buyers are cancelling orders or asking us to delay shipments of furniture. It's happening now,' Wahid said. 'Furthermore, we have to comply with the European Union Deforestation Regulation which is set to come into force in December. Once this is approved other countries like Australia may follow suit. These is one of the few rulings. There are a lot of restrictions coming, as far as exports are concerned.' Besides that, he said, substitutes such as wood plastics and other composites are increasingly serving as alternatives to timber. Beyond market diversification, Wahid stressed the importance of sustainability and responsible forest management. 'Before, probably, we just logged and logged without much thought. But now, we feel that we have to play a part in conserving our resources. 'You don't have to log 10 million, maybe you log 5 million. But if you can add value, you can still do good business.' Wahid said some of its members are tapping into palm oil trunks as part of their environmental, social and governance efforts. 'More than 32 million cubic metres of logs felled in the palm oil estates. Very little is being processed.'
New Straits Times
11-06-2025
- New Straits Times
Pahang Forestry Dept carried out 114 enforcement operations in forest reserves since 2019
KUANTAN: The Pahang Forestry Department has conducted 114 enforcement operations in forest reserves which were encroached for the illegal durian farm cultivation across Raub since 2019. Its director Zainuddin Jamaluddin said a total of 101 assets and equipment were seized within the forest areas, including pickup vehicles, motorcycles, and pesticide spraying tools. He said during the operation which saw the department's West Pahang Enforcement Unit, teaming up with district-level enforcement agencies, exposed to various challenges. "The challenges include encroachment in remote locations, forced to pass through areas which are fenced up, narrow and dangerous stretches. "We continue to carry out enforcement consistently to ensure that encroachment does not persist. "The department does not compromise on illegally converting forest reserves into durian orchards in certain areas," he said when contacted today. Zainuddin said the department takes firm action against forest reserve encroachment, especially where the forest has been turned into durian orchards or utilised for other activities. "Durian trees will be cut down using chainsaws, regardless of the size of the trees or the location within the forest area. "After the illegally planted trees are chopped, replanting activities involving various high-quality timber, including species such as Meranti, Merbau, Perah, and Keruing are carried out by the department's Silviculture Office. "Encroachments are detected through patrols, drones, and satellite imagery," he said. In 2021, Forestry Department cut down some 15,000 Musang King trees in an area measuring 101 hectares at the Batu Talam forest reserve in Raub.
New Straits Times
11-06-2025
- New Straits Times
114 enforcement operations carried out against illegal durian farms in Raub forest reserves
KUANTAN: The Pahang Forestry Department has carried out 114 enforcement operations against illegal durian farms in forest reserves in Raub since 2019. Its director, Zainuddin Jamaluddin, said 101 assets and equipment were seized within the forest areas, including pickup vehicles, motorcycles and pesticide sprayers. He said the operations, carried out by the department's West Pahang Enforcement Unit together with district enforcement agencies, were met with various challenges. "The challenges include encroachment in remote areas, fenced-off zones, and narrow, dangerous routes. We continue to enforce the law consistently to ensure encroachment does not persist," he said today. "The department does not compromise on the illegal conversion of forest reserves into durian farms." Zainuddin said firm action is taken against encroachment, especially where forests have been turned into durian farms or used for other purposes. "Durian trees are cut down with chainsaws, regardless of their size or location in the forests. "After the illegally planted trees are removed, replanting is carried out by the department's Silviculture Office using various high-quality timber species such as Meranti, Merbau, Perah and Keruing. "Encroachments are detected through patrols, drones and satellite imagery." In 2021, the Forestry Department cut down about 15,000 Musang King trees over 101 hectares in the Batu Talam forest reserve in Raub.
