The company stated that this agreement further strengthens the foundation of the region’s first large-scale and independent green iron production project. It was emphasized that the plant has been designed from the ground up to supply competitively priced, low-carbon HBI to global markets.
Louis Kay, Chief Financial Officer of Meranti Green Steel, said in a statement regarding the cooperation: ‘I am delighted to work closely with KfW IPEX-Bank and Jebsen & Jessen in building the ECA financing platform. We thank both institutions for their partnership and trust. This cooperation reflects the strong confidence in our strategy to produce low-carbon HBI from Oman.’
Meranti Green Steel highlighted that sustainable steel production is no longer just a goal for the future, but is rapidly becoming a reality, adding that it aims to provide a high-quality complement to scrap in the fast-growing electric arc furnace (EAF) route.
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