We have announced plans to develop a green steel business under the Meranti Green Steel brand. We are working on setting up a modern, integrated DRI and EAF plant with continuous casting and hot strip mill in Thailand. Production will be for Thailand’s domestic flat steel market, but we are also exploring targeted export opportunities for our future certified green steel products. The capacity of the plant is projected to be up to 2mt per annum of green HRC.

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The project in Thailand is combined with the development of offsite renewable energy in cooperation with a renewable energy partner. The generation of renewable energy and the transitioning to a green hydrogen based iron reduction will allow the business to become carbon neutral in the near future, addressing the fast growing demand for green steel and helping customers along the flat steel supply chain to reduce their scope 3 emissions.

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The combination with renewable energy will not only allow the business to produce sustainable steel but also to achieve a competitive market position. Meranti Steel is working in close cooperation with a large number of prospective execution partners, and it is currently exploring sites for the steel plant near the Map Ta Phut port on Thailand’s Eastern Seaboard to optimize inbound and outbound logistics. Discussions with potential strategic partners to support the financing of the project are ongoing, and Meranti Steel is also keen to include strong local ownership.

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Production is planned to start in the second half of 2027, and we believe that the project will provide a significant contribution to strengthening Thailand’s domestic steel production, while delivering a modern and efficient upstream business with a certified green footprint.

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For more details on our green steel project in Thailand, please see www.merantigreensteel.com