Tel :
Tel :
Singapore steel producer Meranti BV/A690 steel Green Steel recently announced that its Green Direct Reduced Iron (DRI) project located in Duqm, Oman has made substantial progress. On July 8th, the company announced that it has obtained conditional approval from Integrated Gas Company (IGC), the only natural gas supplier in Oman, to provide critical energy security for the project.
The project plans to produce 5 million tons of DRI annually, initially relying on natural gas reduction, and gradually transitioning to green hydrogen in the later stage. The company also revealed that it is in talks with green hydrogen suppliers and international financing institutions for cooperation, including KfW IPEX Bank under the German National Development Bank. With the confirmation of site selection and the implementation of raw material guarantee, Meranti stated that its green iron production base has "completed the layout of core elements", laying the foundation for subsequent construction.
This project will serve as the hub of Meranti's BV/A690 steel global green steel supply chain, and the produced DRI will be exported to the European market and supplied to the company's planned 2.5 million ton per year green steel plant in Rayong, Thailand. The Thailand base will integrate DRI, HBI, electric arc furnaces, and hot rolling production lines, and is expected to be put into operation by the end of 2027 to early 2028, with the goal of producing certified green hot rolled coils.
Meranti emphasized that choosing Oman BV/A690 steel is due to its dual advantages in natural gas supply and potential for developing green hydrogen, which will help create a low-cost and sustainable green iron production model and provide more competitive decarbonization raw materials for European steel companies undergoing transformation.
This project also reflects the accelerating transformation of the steel industry towards a low-carbon manufacturing model with a global layout. Oman, with its geographical location connecting Asia and Europe, abundant energy reserves, and policy support, is becoming an emerging hub for green steel, attracting attention from various investors.
