The Director of the Wire and Rebar Mills Operation Department at the Libyan Iron and Steel Company (LISCO), Ramadan Bagiegah stated that steel factories achieved 80% of the production target in 2023.
Officials mentioned to the Bekam News website that the production of rebar and wire mills reached 370,000 tons, with longitudinal rebar iron accounting for 327,590 tons and coiled iron for 37,000 tons.
He clarified that the production plan for 2024, aims to produce 400,000 tons of rebar and wire iron.
LISCO had previously affirmed that, for the first time in its history, by the end of 2023, the total annual production would reach 1,650,000 tons, from the work of the three units of the direct reduction plant.
Earlier this month, LISCO’s Head of Direct Reduction plants, Mohamed Al-Redani announced that production rates in 2023 reached their highest levels in 12 years.
Iron Sponge and Hot Rolled Iron production reached 1.6 million tons, marking the highest output since the company’s plants started operating.
LISCO’s steel plants recorded 915,000 tons of liquid steel, known as “slabs and billets.” Bar and rod production amounted to 511,000 tons of rods.
Al-Redani disclosed that LISCO’s iron and steel production meets local market demands, with any surplus exported abroad, contributing to bolstering the local economy and supporting the state treasury.
Despite these successes, Al-Redani highlighted challenges faced by the company, particularly in energy and natural gas supply. Factories are intermittently halted during peak summer and winter periods, to support the power grid.
He added that the iron and steel power station, a subsidiary of the General Electricity Company of Libya (GECOL), operates with three units producing 210 megawatts.
Maintenance efforts are underway, urging the completion of these efforts and the integration of the station into the power grid at its maximum capacity.
In September, the Chairman of LISCO, Mohamed Abdulmalik Al-Faqih received the Ambassador of Bangladesh, Abu Hassanat Mohammad Khair and his accompanying delegation.
The meeting provided an opportunity for both parties to discuss areas of cooperation in the industrial sector. As well as explore avenues to strengthen and enhance collaborative efforts between the two sides.
During the meeting, Al-Faqih conveyed his keen interest in expanding bilateral ties. LISCO has announced that it has exported 12,000 tons of Hot Briquetted Iron (HBI) to Egypt.
A massive cargo ship carrying 150,000 tons of iron ore pellets from Brazil, docked at the company’s port.
The company highlighted that the synchronization of the shipping and unloading operations follows the extension of the quay, to 1,080 meters. This is part of the company’s infrastructure development plan.
