{"id":9436,"date":"2026-02-28T15:25:00","date_gmt":"2026-02-28T11:25:00","guid":{"rendered":"https:\/\/omanet.om\/en\/news\/economy\/duqm-hbi-secures-full-output-buyers\/"},"modified":"2026-02-28T21:03:28","modified_gmt":"2026-02-28T17:03:28","slug":"duqm-hbi-secures-full-output-buyers","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/economy\/duqm-hbi-secures-full-output-buyers\/","title":{"rendered":"Duqm HBI Project Secures Full Output Buyers: What This 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 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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><\/p>\n<p>MUSCAT, FEBRUARY 28 \u2014 Meranti Green Steel has secured full offtake agreements for the entire output of the first module of its planned hot briquetted iron (HBI) plant in Duqm. The agreements cover the full production capacity of 2.5 million tonnes per year, marking a significant step forward as the project advances into financing and delivery phases.<\/p>\n<p>In a recent update, the Singapore-based developer revealed that the long-term contracts allocate 1.0 million tonnes per annum to Thyssenkrupp Materials Trading and 0.25 million tonnes per annum to INTERFER Edelstahl &amp; INTERFER Austria. The remaining volume will be distributed to Glencore and Meranti\u2019s own downstream operations at its emerging steel facility in Rayong, Thailand, where green hot rolled coil production is ramping up.<\/p>\n<p>These agreements include essential commercial terms such as pricing frameworks, product specifications, and delivery schedules. They also include provisions for potential additional volumes connected to a prospective second HBI module in Oman, contingent on meeting certain conditions.<\/p>\n<p>Meranti Green Steel CEO Dr. Sebastian Langendorf emphasized that the blend of major international traders and internal demand via the Thailand steel operations helps mitigate early-stage risks and broadens market access. This offtake structure supports the company\u2019s plan to reach a Final Investment Decision (FID) by mid-2026.<\/p>\n<p>Thyssenkrupp Materials Trading will target markets in Germany, Belgium, and the Netherlands, while INTERFER\u2019s volumes are focused on Italy and Austria. Glencore will serve other destinations. The strategy positions Duqm\u2019s HBI as a low-CO\u2082 iron feedstock tailored for electric arc furnace (EAF) steelmaking\u2014an increasingly important sector due to growing decarbonization efforts and stricter emissions reporting standards in key importing countries.<\/p>\n<p>Dr. Langendorf highlighted the Duqm project as a critical component of Meranti\u2019s broader value chain supporting its downstream ambitions in Thailand. While Thailand primarily uses scrap steel, high-quality products require HBI feedstock, making Oman a strategic source.<\/p>\n<p>On energy transition, Langendorf outlined a phased approach: the initial plant will operate on a gas-based model supplemented with some green hydrogen, gradually increasing the hydrogen share as supply infrastructure and market conditions evolve.<\/p>\n<p>Financing remains the next major focus. Meranti is structuring a funding package combining international and local investors. A banking consortium led by KfW IPEX-Bank is arranging financing, with the company pursuing export credit agency (ECA) support to enhance competitiveness. Negotiations with three local banks for a local debt component are ongoing, with EY advising on equity structuring.<\/p>\n<p>Meranti\u2019s commercial strategy hinges on securing reliable demand and maintaining cost competitiveness through a phased energy transition. With offtake agreements now in place, the company will concentrate on achieving financing closure, preparing for execution, and confirming utilities and delivery schedules\u2014key milestones for progressing from planning to construction. <\/p>\n<p><strong>Meranti Green Steel\u2019s Duqm project is poised to become a cornerstone in the global shift towards low-carbon steel production, linking Omani resource advantages with Southeast Asia\u2019s growing industrial demand.<\/strong><\/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 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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&#8217;s full offtake coverage for its Duqm HBI plant signals a <strong>strategic entry into the low-CO\u2082 steel supply chain<\/strong>, positioning Oman as a critical hub in the decarbonizing global steel industry. Businesses and investors should view this as an <strong>opportunity to engage in sustainable industrial growth<\/strong>, leveraging Duqm\u2019s evolving infrastructure and the anticipated phased integration of green hydrogen. Smart investors must now focus on <strong>financing milestones and local partnerships<\/strong>, as securing competitive funding and execution readiness will be pivotal for the project&#8217;s success and long-term market influence.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meranti Green Steel secured full offtake for its first HBI plant module at Duqm, covering 2.5M t\/y output. Buyers include Thyssenkrupp, INTERFER, Glencore, and Meranti&#8217;s Thailand steel plant. The agreements support pricing, specs, delivery, and potential module 2 volumes.<\/p>\n","protected":false},"author":11,"featured_media":9437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[482],"tags":[3987,940,3988],"class_list":["post-9436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-hot-briquetted-iron","tag-meranti-green-steel","tag-offtake-agreements"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2026\/02\/3309088.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9436","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\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/comments?post=9436"}],"version-history":[{"count":1,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9436\/revisions"}],"predecessor-version":[{"id":9438,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9436\/revisions\/9438"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/9437"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=9436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=9436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=9436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}