Our Portfolio:
Our Projects Today,
and the Future Pipeline
Building on our projects in Oman and Thailand, we are continuously evaluating selected opportunities
across international iron and steel value chains, where our capabilities and partnerships
create both commercial and environmental value.
Oman:
The Duqm Green Iron Project
In the Duqm Special Economic Zone, we are developing a green iron plant designed to produce 2.5 million tons per year of green Hot Briquetted Iron (HBI) in Module 1, with expansion possible to a Module 2. Our Green HBI will be sold worldwide through our offtake channels and will be used as a competitive, low carbon, high quality input in steelmaking.
The plant will use the MIDREX Flex® direct reduction technology.
Engineering will be completed by SMS group and Paul Wurth Italia.
Larsen & Toubro is our designated integrated EPC partner.
In a first phase, the plant is designed to run with 11.5% green hydrogen in its reduction process. That share is expected to rise step by step as Oman’s green hydrogen supply base scales.
Signed offtake term sheets cover the full 2.5 million tons per year of Module 1.
Around 30% of the production is planned for our green steel project in Thailand, with the rest going to partners in Europe, Asia and beyond.
Module 1 capacity
2.5M
tons of green HBI per year, expandable through a potential Module 2
Offtake
100%
of Module 1 output covered by signed term sheets
Hydrogen, first phase
11.5%
of the gas reduction mix, expected to rise as Oman’s green hydrogen supply scales
Commercial production
2030
FID by end of 2026, site mobilization mid-2027, commissioning by end of 2029
Thailand:
The Rayong Green Steel Project
In the IRPC Eco-Industrial Zone in Rayong, we are developing a green steel plant designed to produce up to 2.5 million tons a year of green Hot Rolled Coil (HRC). It is the steelmaking half of our decoupled model: ironmaking where energy is most competitive, steelmaking close to our customers.
The plant is designed around Danieli electric arc furnace technology, Q-One and Q-Melt, combined with continuous casting. It will melt a mix of roughly half green HBI and half scrap, powered by renewable electricity secured through direct Power Purchase Agreements.
The result will be low-carbon steel with more than 65% less CO₂ than conventional blast furnace steelmaking from day one, and a pathway to more than 90% over time. It is designed as a CBAM-ready product for automotive, appliances, construction and general manufacturing customers across Europe and beyond.
More than
65%
less CO₂ than conventional blast furnace steelmaking, from day one
Pathway to more than
90%
CO₂ reduction over time
Capacity of up to
2.5M
tons of green Hot Rolled Coil per year
Feedstock, roughly
50:50
green HBI and scrap, melted with renewable electricity
Offtake:
Where Our Green Iron and Steel Is Set to Go
Offtake term sheets and MoUs are in place for both projects. Select a project to see its offtake markets and the partners behind the demand.
Selected Emerging Opportunities:
How We Build Competitive, Sustainable Projects
Oman and Thailand demonstrate how we approach project development. We focus on opportunities across iron and steelmaking where the right combination of energy, raw materials, infrastructure, technology, partners and market demand can support both meaningful emissions reductions and long-term commercial viability.
Competitive energy
Access to reliable energy at costs that support competitive production.
Reliable raw materials
Secured access to the right quality and volume of iron ore, scrap or other inputs.
Partners across the chain
Technology, infrastructure, logistics and commercial partners that support project delivery.
Clear market demand
Products and production routes developed around real customer needs and competitive market conditions.
We continue to evaluate opportunities across the iron and steel value chain where our approach can create both commercial and environmental value.
Our Markets:
Built for Industries Ready to Decarbonize
Our projects serve two links in the value chain. Green HBI is made for steelmakers lowering the carbon in their own production. Green Hot Rolled Coil is designed for the manufacturers who turn steel into everyday products.
Green HBI
Steelmakers
A lower-carbon source of iron for steelmakers worldwide, from our green iron project in Duqm.
Green HRC
Automotive and EV
Low-carbon steel for vehicle bodies, frames and components as carmakers cut emissions across their supply chains.
Green HRC
Construction and infrastructure
Steel for buildings, structures and infrastructure with a smaller carbon footprint.
Green HRC
Appliances and manufacturing
Steel for refrigerators, washing machines and the wider manufacturing sector.
Green HRC
Packaging
Steel for cans and containers that keep food and everyday goods safe.
CBAM-ready for Europe
Europe’s Carbon Border Adjustment Mechanism puts a price on the carbon embedded in imported iron and steel. Our green HBI and green steel are designed to be CBAM-ready for buyers in Europe.
More than
65%
less CO₂ in our green steel than in conventional blast furnace steelmaking, from day one