Meranti Green Steel is advancing key development milestones for its planned 2.5 mln tons per year hot briquetted iron (HBI) plant in Duqm, Oman, ahead of a final investment decision (FID), according to local media reports citing company officials.
The company is progressing work on financing, permitting, engineering and EPC tendering, while also working to convert existing term sheets into binding agreements covering upstream supply and downstream offtake, CEO Sebastian Langendorf said.
The project has secured long-term offtake commitments for the full capacity of the first module, with volumes allocated to international partners as well as the company’s downstream steel operations.
Financing discussions are ongoing with international lenders and export credit agencies, alongside potential participation from local banks, the company said.
Preparations are also underway to launch the EPC tender process in the coming months, with engagement ongoing with local authorities and partners to support project execution.
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.
