Singapore-based Meranti Green Steel’s (MGS) 2.5 million tonne per year hydrogen-based iron production project in Oman is advancing through its pre-construction phase ahead of a Final Investment Decision (FID) in 2026.

Located in Duqm’s Special Economic Zone (Sezad), the hot briquetted iron (HBI) plant is expected to transition to low-carbon iron production by starting with a natural gas and green hydrogen mix, before gradually ramping up to 85% green hydrogen.

With commissioning slated for 2029 and construction due to start immediately after FID, MGS has already locked in land at Duqm, secured a conditional gas allocation, and established a local entity to anchor the project.

A significant portion of the 2.5 million tonnes per year is earmarked for MGS’ planned green steel mill in Rayong, Thailand, which is set to become Southeast Asia’s first green flat steel plant.

By importing HBI as a feedstock, the Thai facility is expected to focus on electric arc furnace (EAF)-based steelmaking close to its end markets.