{"id":10149,"date":"2026-03-24T16:40:00","date_gmt":"2026-03-24T12:40:00","guid":{"rendered":"https:\/\/omanet.om\/en\/news\/economy\/meranti-advances-duqm-iron-milestones\/"},"modified":"2026-03-24T23:42:31","modified_gmt":"2026-03-24T19:42:31","slug":"meranti-advances-duqm-iron-milestones","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/economy\/meranti-advances-duqm-iron-milestones\/","title":{"rendered":"Meranti Pushes Forward Duqm Iron Project: What It Means for Investment Opportunities in Oman"},"content":{"rendered":"<style>\r\n@keyframes hitv3sog-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitv3sog-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitv3sog-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitv3sog-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitv3sogw{container-type:inline-size;width:100%;max-width:970px;margin:0 auto;box-sizing:border-box}\r\n.hitv3soga{display:flex;flex-direction:row;align-items:center;justify-content:space-between;width:100%;box-sizing:border-box;text-decoration:none;color:#fff;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,system-ui,sans-serif;position:relative;overflow:hidden;cursor:pointer;background:linear-gradient(135deg,#111118 0%,#080808 100%);border:1.5px solid rgba(255,255,255,0.08);border-radius:14px;gap:20px;padding:20px 40px;transition:border-color .2s}\r\n.hitv3soga:hover{border-color:#dc262688}\r\n.hitv3sogg1{position:absolute;inset:0;background:radial-gradient(ellipse at 50% 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitv3sog-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OMAN OFFER<\/span><\/div>\r\n    <div class=\"hitv3sogh\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.15s;\">Websites For <span style=\"color:#dc2626;\">Omani Businesses.<\/span><\/div>\r\n    <div class=\"hitv3sogs\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.3s;\">Empower your brand with custom digital solutions designed for high conversion and market dominance.<\/div>\r\n    <div class=\"hitv3sogbl\"><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Responsive designs built for growth<\/span><\/div><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Fast loading with smart automation<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitv3sogct\">\r\n    <button class=\"hitv3sogbtn\" style=\"animation:hitv3sog-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Build Your Free Website <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitv3sogbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div>\n<p>MUSCAT: Meranti Green Steel is intensifying efforts to reach critical development milestones ahead of a highly anticipated Final Investment Decision (FID) for its groundbreaking low-carbon iron production facility in Oman. The project, located in the Duqm Special Economic Zone, aims to produce 2.5 million tonnes per annum (mtpa) of hot briquetted iron (HBI).<\/p>\n<p>According to Meranti CEO Dr. Sebastian Langendorf, key milestones include securing financing, obtaining necessary permits, advancing engineering work, and initiating the Engineering, Procurement, and Construction (EPC) tendering and contract finalisation processes. These steps are essential for preparing the project for bankability and execution readiness.<\/p>\n<p>\u201cOver the next three to four months, we will finalise the financing package, encompassing both debt and equity, complete permitting, progress engineering, and launch the EPC tender process,\u201d Dr. Langendorf stated. He also highlighted ongoing efforts to convert existing term sheets related to upstream supply, downstream offtake, and other agreements into binding long-form contracts. Infrastructure planning is proceeding concurrently as part of the engineering phase.<\/p>\n<p>During his recent visit to Oman\u2014shortly after Meranti\u2019s office opening in Muscat\u2014Dr. Langendorf engaged with the Public Authority for Special Economic Zones and Free Zones (OPAZ), Hydrom, Invest Oman, Integrated Gas Company (IGC), and current business partners to prepare for the next project phase leading to FID and implementation.<\/p>\n<p>Preparations for the multibillion-dollar Duqm complex are progressing well, with a formal EPC tender expected to launch soon. The company has identified several target international EPC contractors, prioritising those with proven collaboration experience, especially with Meranti\u2019s technology provider, to minimise delivery risks and ensure timely, on-budget, and safe project completion.<\/p>\n<p>Meranti is committed to involving local companies, particularly at the subcontractor level, in civil, mechanical, electrical, and installation works. The company is actively facilitating connections between local firms and potential EPC partners.<\/p>\n<p>Welcoming a new strategic partner, whose identity will be revealed soon, Dr. Langendorf mentioned the possibility of including an Omani equity partner such as the Oman Investment Authority (OIA) or its subsidiaries. He emphasised the importance of a balanced shareholder structure combining international and local partners, each bringing strategic value either through supply chain integration or local market expertise.<\/p>\n<p>Meranti is finalising binding agreements that will clarify the promoter company\u2019s equity structure. The firm has secured long-term offtake commitments for the full 2.5 mtpa output of its initial green HBI module, allocated among international partners including Thyssenkrupp Materials Trading, INTERFER, and Glencore, as well as its own downstream steel facility in Thailand, with provisions for potential expansion.<\/p>\n<p>On financing, Meranti is advancing international arrangements with KfW IPEX-Bank as lead arranger and planned export credit agency (ECA) support, while also engaging local banks for participatory roles. Dr. Langendorf met with several local banks during his visit, indicating promising potential for domestic financial involvement.<\/p>\n<p>Overall, Meranti Green Steel is making significant progress across multiple fronts to ensure readiness for the upcoming FID and successful project execution in Oman.<\/p>\n<p><style>\r\n@keyframes hitl8gak-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitl8gak-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitl8gak-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitl8gak-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OFFER<\/span><\/div>\r\n    <div class=\"hitl8gakh\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.15s;\">Your Website <span style=\"color:#dc2626;\">Should Sell.<\/span><\/div>\r\n    <div class=\"hitl8gaks\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.3s;\">Custom-built websites with smart automation & AI-powered features.<\/div>\r\n    <div class=\"hitl8gakbl\"><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>SEO-optimized & lightning fast<\/span><\/div><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Smart features built for your business<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitl8gakct\">\r\n    <button class=\"hitl8gakbtn\" style=\"animation:hitl8gak-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Get Free Consultation <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitl8gakbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div><br \/>\n<\/p>\n<p>Special Analysis by Omanet | Navigate Oman&#8217;s Market<\/p>\n<p>Meranti Green Steel\u2019s imminent Final Investment Decision on a 2.5 mtpa low-carbon iron plant in Duqm signals <strong>a transformative opportunity for Oman&#8217;s industrial sector<\/strong>, potentially positioning the Sultanate as a regional leader in green steel production. <strong>Local businesses stand to benefit significantly through subcontracting opportunities and partnerships<\/strong>, while smart investors should watch for strategic equity openings, including possible involvement by Omani entities like the Oman Investment Authority. The project\u2019s success hinges on <strong>securing balanced international-local financing and partnerships<\/strong>, making this an opportune moment for investors to engage early in Oman\u2019s evolving green industrial landscape.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meranti Green Steel is advancing key development milestones for its 2.5 mtpa low-carbon iron plant in Duqm, Oman. Focus areas include financing, permitting, engineering, EPC tendering, and converting term sheets into binding contracts ahead of a Final Investment Decision in coming months.<\/p>\n","protected":false},"author":5,"featured_media":10150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[482],"tags":[4231,939,940],"class_list":["post-10149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-duqm-special-economic-zone","tag-low-carbon-steel","tag-meranti-green-steel"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2026\/03\/3330694.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/10149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/comments?post=10149"}],"version-history":[{"count":1,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/10149\/revisions"}],"predecessor-version":[{"id":10151,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/10149\/revisions\/10151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/10150"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=10149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=10149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=10149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}