Meranti Green Steel has signed a landmark agreement with a long-term strategic investor to accelerate the development of its green iron project in Oman.
This collaboration brings the project closer to its Final Investment Decision (FID), which is now targeted for mid-2026, marking a significant step forward in the company’s commitment to sustainable steel production.
This strategic investment strengthens the project’s financial foundation and positions it for future strategic collaborations, supporting the creation of a globally competitive, low-carbon industrial hub.
Louis Kay, Chief Financial Officer, commented that, “This marks a significant milestone in establishing a bankable, globally competitive green iron production in Oman. With long-term institutional backing and strong development capabilities aligned, the project is now positioned to attract strategic partners and secure durable capital. We are moving from vision to execution.”
Meranti Green Steel has not disclosed the identity of the investor, the size of the investment, or the specific commercial terms of the deal. However, the agreement marks a significant step in the development of the green iron project, which is set to contribute to the global transition toward low-carbon steel production.
Meranti Green Steel said that, “In the coming months and provided that the situation allows, the company will complete pre-FID engineering and commercial studies, engage technology partners, and progress site and infrastructure planning, ensuring the project delivers sustainable industrial impact and supports Oman’s energy transition.”
Meranti Green Steel Expansion into Oman
Recently, Meranti Green Steel announced the opening of its new office in Muscat, marking a key milestone in the company’s expansion across the Middle East region.
The Muscat office reinforces MGS’s split production model, separating ironmaking and steelmaking to optimize cost, carbon efficiency, and supply chain resilience. Furthermore, the new Meranti Green Steel office intends to create more than 1,000 direct and indirect jobs in Oman and will support skills development through collaboration with local universities and technical institutions, while strengthening trade flows with Europe and other regions.
