The development timeline for Singapore steel company Meranti Green Steel's low-carbon hot briquetted iron (HBI) project in Oman is not expected to be affected by ongoing regional geopolitical tensions, according to company officials who spoke to the Oman Observer. The plant is designed to produce approximately 2.5 million tonnes of HBI per year, part of a broader low-carbon steel value chain strategy.
The project, located in the Duqm Special Economic Zone, remains on schedule despite the conflict, reflecting continued investor confidence in Oman's business environment.
Meranti said the overall delivery schedule for the first module of the HBI project is unlikely to be disrupted by current regional events. Company representatives emphasized that Oman continues to offer a stable and secure operating environment while insulating the project from external geopolitical risks.
Final investment decision has been delayed until the third quarter of 2026
The final investment decision on the project, originally expected around mid-2026, has been postponed to the third quarter of 2026 year.
The adjustment is intended to give international partners additional time to assess changing regional conditions. and not due to direct failure of the project.
Long-term production timeline
According to project details:
- commissioning is scheduled for mid-2029,
- commercial production is expected in early 2030.
