Singapore-based steelmaker Meranti Green Steel has announced that it has signed an agreement with a long-term strategic investor to accelerate the development of its green iron project in Oman.
The investment is expected to support the project’s progress toward a final investment decision (FID), currently targeted for mid-2026.
Investment strengthens project financing structure
According to the company, securing institutional backing at this stage strengthens the financial structure of the project and helps position it as a globally competitive low-carbon industrial hub. The move is also expected to attract additional strategic partners and long-term financing to support the project’s development and future operations.
Louis Kay, chief financial officer of Meranti Green Steel, stated that the alignment between long-term investors and the company’s development capabilities will facilitate the next phase of the project. He noted that the new partnership improves the project’s ability to secure additional capital and strategic collaborations.
Engineering and infrastructure work continues
Over the coming months, the company plans to complete pre-FID engineering and commercial studies, subject to prevailing market conditions.
Meranti Green Steel will also continue discussions with technology providers while advancing site planning and infrastructure development to prepare the project for implementation. The green iron initiative is designed to support sustainable industrial development while contributing to Oman’s broader energy transition strategy.
