Meranti Green Steel has appointed KfW IPEX-Bank as lead arranger and Jebsen & Jessen Industrial Solutions GmbH as a key partner for the export credit agency (ECA)-backed debt financing of its planned green HBI/DRI facility in Oman.
The company said the mandate marks a significant step toward developing what is set to become the region’s first large-scale, independent green iron project, designed to produce cost-competitive, low-carbon HBI for global markets.
Meranti Green Steel’s CFO, Louis Kay, noted that the partnership signals strong confidence in the company’s strategy to supply low-carbon HBI from Oman.
The project involves the construction of a 2.5 mln tons per annum Hot Briquetted Iron plant in the Special Economic Zone at Duqm (SEZAD), with commissioning targeted for mid-2029.
