Meranti Green Steel has signed a Memorandum of Understanding (MoU) with Kingspan to supply low-carbon steel for the insulation manufacturer’s operations across the Asia-Pacific (APAC) region. The Singapore-based firm is developing Southeast Asia’s first major green steel plant in Thailand.
The partnership supports Kingspan’s Planet Passionate sustainability program, which aims to reduce manufacturing emissions and the carbon footprint of key materials like steel. The collaboration will help secure large-scale green steel supply and accelerate its availability across APAC, one of the world’s fastest-growing green steel markets.
Meranti’s Thai plant, scheduled to break ground in late 2026 and start up by 2029, will produce green steel using scrap and hot briquetted iron (HBI) made with a mix of green hydrogen and natural gas from its Oman facility, processed in electric arc furnaces (EAFs).
The company plans to shift to 100pct renewable power within five years through local power purchase agreements, backed by 1.7 GW of proposed solar, wind, and hydro capacity. Meranti aims to cut its steelmaking carbon intensity by up to 90pct by 2045.
The partnership supports Meranti’s plan to produce 7-8 mln tons of green steel annually from hubs in Thailand and Oman, with future expansion into Indonesia, Western Australia, and other APAC markets. Kingspan’s Phu My facility in Vietnam will be among the first to benefit, supplying insulated panels for industrial, architectural, and controlled-environment projects.
