Thailand’s Millcon Steel has signed a memorandum of understanding (MoU) with Singapore-based Meranti Green Steel to collaborate on low-carbon steel production and decarbonization initiatives.
The partnership will focus on reducing greenhouse gas emissions in steelmaking processes and advancing the development of green steel in Thailand.
Both companies plan to work with government bodies, industry associations and other stakeholders to develop standards and frameworks supporting low-carbon steel production, in line with global environmental requirements.
The cooperation also aims to enhance the competitiveness of Thailand’s steel industry by promoting sustainable production practices and aligning with national emission reduction targets.
Millcon Steel is Thailand’s leading integrated manufacturer and distributor of steel products.
Meranti Steel is a Singapore-headquartered steel company founded in 2016 that focuses on developing a sustainable, low-carbon steel business in Southeast Asia.
Meranti is currently developing a green steel plant in Rayong, Thailand, with a planned capacity of 2.5 mln tons per year of HRC, based on electric arc furnace (EAF) technology using a mix of scrap and green iron. Construction is expected to begin in 2026, with commissioning targeted for 2029. In parallel, the company is developing a green iron project in Duqm, Oman, with a planned capacity of 2.5 mln tons per year of HBI. Around 30pct of the output is expected to supply the Thailand facility, with the remainder allocated for export markets.
