Meranti Green Steel secures full offtake coverage for the first module of its green hot briquetted iron (HBI) production from its iron plant in the Duqm special economic zone, marking a key commercial milestone for the project.
The offtake agreements cover Meranti’s full planned module 1 capacity of 2.5 million
tonnes of HBI per annum, allocated across four core partners: 1.0 million tonnes per annum to Thyssenkrupp Materials Trading, 0.25 million tonnes per annum to INTERFER Edelstahl & INTERFER Austria. The remaining balance will be supplied to Glencore and to Meranti’s new steel plant in Rayong, Thailand. The offtake agreements also include allocation of additional volumes among the four offtakers for a potential second HBI module in Oman, subject to certain conditions being met.
Distribution among offtakers is structured as follows: Thyssenkrupp Materials Trading
will focus on Germany, Belgium, and the Netherlands; INTERFER Edelstahl & INTERFER
Austria will focus on Italy and Austria; and Glencore will focus on other countries.
These long-term offtake arrangements underpin the commercial viability of Meranti’s
green HBI project in Oman and support further progress toward final investment
decision (FID) which is planned for mid-2026. The offtake agreements include key
commercial terms including pricing frameworks, product specifications, and delivery
start and duration.