Duqm's Green Steel Revolution: Investing in Low-Carbon Future
Key Ideas
- Meranti Green Steel progresses in investing in a major green steel project at the Duqm Special Economic Zone in Oman with confirmed gas supply and ongoing talks with green hydrogen partners.
- Duqm's rising international profile attracts investments in 'hard-to-abate' sectors like steel and aluminium manufacturing, emphasizing the shift towards low-carbon heavy industry.
- Other major players like Jindal Duqm Steel, Kobe Steel, Mitsui & Co, and Vale are also planning substantial low-carbon iron and steel projects in Duqm, showcasing the growing interest in green initiatives.
- Meranti's integrated green steel project in Thailand, along with the one in Oman, aims to establish a sustainable green steel value chain that benefits European steelmakers and the job market.
Meranti Green Steel (MGS) from Singapore is making strides in its plans to invest in a green steel project at Duqm Special Economic Zone in Oman. The project, though without disclosed capacity details and investments, has secured a provisional commitment for natural gas supply. Discussions for green hydrogen partnerships are ongoing, enhancing the project's sustainability. Duqm's attractiveness for investments in low-carbon industries like steel and aluminium is increasing, with various international companies planning green initiatives. Jindal Duqm Steel, Kobe Steel, Mitsui & Co, and Vale have announced projects focusing on low-carbon iron production in Duqm, aligning with the global shift towards sustainable practices. Meranti's project in Thailand complements the one in Oman, aiming to establish a green steel value chain and support European steelmakers. The collective efforts reflect a positive sentiment towards green energy and economic development in the region.