Meranti Green Steel has signed an agreement with a long-term strategic investor to support the development of its green iron project in Oman, bringing the project closer to a final investment decision (FID) targeted for mid-2026.
The company said the investment strengthens the project’s financial foundation and supports the development of a low-carbon iron production hub aimed at supplying global markets.
Meranti plans to advance pre-FID engineering and commercial studies in the coming months, while also engaging technology partners and progressing site and infrastructure planning.
The project forms part of broader efforts to develop low-carbon iron production capacity in the region and support Oman’s energy transition and industrial diversification.
Meranti Green Steel is building of a 2.5 mln tons per annum HBI plant in the Special Economic Zone at Duqm (SEZAD), with commissioning targeted for mid-2029. The company has indicated plans for a potential second HBI module, which would double the total capacity to 5 mln tons per annum.
