Business Deal Meranti Green Steel, Interfer Edelstahl Handelsgesellschaft Enter into Offtake Partnership

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Meranti Green Steel has entered into a MOU with Interfer Edelstahl Handelsgesellschaft to establish an offtake partnership. With this move, Interfer Edelstahl Handelsgesellschaft will support Meranti’s mission of becoming a premier supplier of Green Hot Rolled Coils from the Asia-Pacific region to Europe.

Singapore/Singapore – Meranti Green Steel, pioneering sustainable steel production in the APAC region, has achieved another significant milestone with the signing of a memorandum of understanding (MOU) with Interfer Edelstahl Handelsgesellschaft regarding an offtake partnership. Interfer Edelstahl Handelsgesellschaft, a leading European steel importer renowned for its global network and exceptional services, has joined forces with Meranti Green Steel to support Meranti’s mission of becoming a premier supplier of Green Hot Rolled Coils (Green HRC) from the Asia-Pacific (APAC) region to Europe.

Headquartered in Karlsruhe, Germany, with offices spanning across the Europe, USA, and China, Interfer have an extensive distribution network worldwide. Meranti Green Steel, based in Singapore, is pioneering green steel production across APAC, integrating cutting- edge processes such as direct reduction in Western Australia, in partnership with GSWA, with steel making in South-East Asia, using renewable energy sources like solar and wind farms.

Harold Quek, Vice President of Business Development at Meranti Green Steel, expressed enthusiasm about the partnership, stating, "After collaborating with local partners, raw material suppliers, and operational partners, we are thrilled to now enter into offtake partnerships concerning our future Green HRC products. We are extremely proud to have Interfer / Belmont & Knott as our inaugural offtake partner. Our missions are fully aligned, and we both aim to supply sustainable quality products to our customers."

Gerold Lorenz, Chairman of Interfer, emphasizes the ambition of the partnership between his globally active steel trading company and the young pioneer of climate-neutral steel: "We’ve understood the importance of quality and reliability in steel trading for over 35 years. Our partnership with Meranti Green Steel marks a significant step in our strategy towards not only providing premium service in the steel market, but actively contributing to the decarbonization of the steel industry. We strongly believe that sustainability is not just a buzzword, but a responsibility that every industry must face up to here and now. Therefore, building a responsible and resource-saving steel trade is not only a vision of the future. It's a commitment we're tackling today."

The offtake partnership delineates various phases of responsibilities, with Interfer and Meranti Green Steel working together in market acquisition, technical support, commercial activities, logistics, legalization, and later supply and offtake of Green HRC. The Parties are eyeing a range of market segments, including in the UK. Together, Interfer and Meranti Green Steel have committed to collaborative branding and marketing activities in the Europe region, leveraging each other's strengths for mutual benefit. The alliance between Interfer Edelstahl Handelsgesellschaft and Meranti Green Steel marks an important moment in the nascent green steel industry, as both entities strive to accelerate the adoption of sustainable steel production practices against the background of the European Carbon Border Trading Mechanism (CBAM).

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