Meranti Green Steel, based in Singapore, is set to break ground on a new plant in Thailand's Rayong province by 2026 and commence operations by mid-2028. The plant will focus on producing low-carbon hot-rolled coil, with a target annual capacity of 2.5 million metric tons. The company plans to reduce CO2 emissions by using a mix of natural gas and green hydrogen in the production process, aiming to reach below 200 kg of CO2 per metric ton of steel. Meranti is optimistic about the regulatory environment in Asia favoring decarbonization, particularly with the rise of carbon taxes and the EU's Carbon Border Adjustment Mechanism. Meranti sees an advantage as a new player in the market, enabling it to build a low-carbon steel operation without legacy carbon emissions. The company is also exploring ironmaking hubs in Western Australia and the Middle East to secure high-grade iron ore concentrates for top-quality low-carbon products. Additionally, Meranti aims to target industries like electric vehicles and manufacturing for its low-carbon steel, capitalizing on the growing demand in these sectors. The company plans to offer commercial-quality coil for the building and construction industry, passing on low-carbon steel premiums to end-users. Overall, Meranti Green Steel is driving a low-carbon revolution in the steel industry, banking on the global shift towards sustainable practices and the increasing demand for environmentally friendly products.