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Executives from Thailand's Meranti Green Steel stated in a webinar on October 29 that the company plans to build a green steel ecosystem in Thailand.
The company is building a low-carbon steel plant in Rayong Province, Thailand, with an annual production capacity of 2.5 million tons of hot-rolled coil. B23R070 oriented electrical steel, It is expected to begin operations in mid-2028. This plant will utilize hot briquetted iron from the company's green direct reduced iron project in Duqm, Oman, which is expected to commence operations in mid-2029.
The company stated that Meranti will be able to meet the demand for green public procurement by providing domestically produced low-carbon products, thereby assisting midstream and downstream businesses. B23R070 oriented electrical steel, This will also reduce Thailand's reliance on steel imports and potentially transform Thailand into a steel exporting country to the EU that meets the standards of the Carbon Border Adjustment Mechanism.
Meranti plans to allocate its low-carbon direct reduced iron produced in Oman to upstream producers in Thailand, thereby easing the supply pressure on scrap steel used as raw material in electric arc furnaces.
The company's CEO stated that, through its subsidiary Meranti Green Energy, the company is building a portfolio of solar, wind, B23R070 oriented electrical steel, and hydroelectric projects that will be capable of providing up to 2,500 gigawatt-hours of renewable energy annually by 2031.
Furthermore, the Eastern Economic Corridor Office of Thailand stated that green steel is key to unlocking Thailand's potential to become a "benchmark for new industrial growth," and the government is committed to helping the Thai steel industry turn this vision into reality.
