Singapore steelmaker Meranti Green Steel (MGS) is evaluating investment in steel processing alongside its low-carbon iron project in Duqm, Oman, CEO Dr Sebastian Langendorff said in a statement to local media.
The company is advancing its first phase of investment, a 2.5 million tonne hot briquetted iron (HBI) plant in the Duqm Special Economic Zone. A final investment decision (FID) is expected in the third quarter of the year, with commercial operations expected to begin in early 2030.
Refining Plans Evaluated
Meranti Green Steel is evaluating potential refining activities as part of its long-term strategy, including the production of semi-finished products such as slabs and flat steel, Dr. Langendorff said. However, these plans remain dependent on several external factors, including geopolitical events, trade measures such as tariffs and quotas, and global market trends.
He said infrastructure considerations, particularly the availability of stable power, along with domestic and export market opportunities, are key elements in determining the feasibility of downstream production. He added that while it is too early to draw firm conclusions, processed foods represent a promising area.
Growth potential and expansion plans
Meranti sees long-term growth in demand in East Africa and India, supported by demographic and economic factors.
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