Summary: OCBC’s mezzanine capital unit invested in Green Esteel, the controlling shareholder of BRC Asia, to develop a low-carbon steel project in Sabah. The US$1.5 billion project, expected to be operational by 2030, will produce 2.5 million tonnes of hot briquetted iron annually. This investment supports the growing demand for low-carbon steel, which is projected to grow at a CAGR of 21.4% from 2024 to 2029.

Link: https://www.theedgesingapore.com/news/sustainability/ocbc-invests-brc-asias-controlling-shareholder-green-esteel-power-us15-bil-low