Meranti Green Steel has outlined a step-by-step energy transition plan for its planned hot briquetted iron (HBI) facility at Oman’s Special Economic Zone at Duqm, starting with a blended fuel approach before scaling up green hydrogen use. In the first phase, the plant is designed to run on an 11.5% green hydrogen and 88.5% natural gas mix, with the hydrogen share rising over time as supply, cost, and technical readiness improve.

The project targets 2.5 million tonnes per year of HBI—an increasingly sought-after low-carbon iron unit for electric arc furnace (EAF) steelmaking and greener downstream production. A final investment decision is expected by mid-2026, while commissioning is targeted for mid-2029.

Meranti says it is funding development at the corporate level for now, while preparing a dedicated project financing structure that draws on both international and local funding channels. The company also pointed to ongoing engagement with key Omani ecosystem partners supporting the framework for gas, hydrogen, and investment facilitation.