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Libyan Cement Plant Faces 302 Million Dinar Losses

July 9, 2024
Libyan Cement Plant Faces 302 Million Dinar Losses
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Employees of Libya’s Al-Burj Cement Plant in Zliten, operated by the Arab Union Contracting Company, have issued a statement calling for the immediate reopening and resumption of operations without any conditions.

They emphasised the urgent need to return to work to avoid further losses, which have reached 302 million Libyan dinars to date, according to a statement by the workers.

The statement highlighted that production losses since the plant’s closure have exceeded 680,000 tonnes of cement, valued at 272 million dinars. Additionally, 75,000 tonnes of unsold cement remain in storage, worth 30 million dinars.

The halt in production has led to both direct and indirect losses for the national economy, reduced employee production bonuses, lowered salaries, and had negative psychological impacts.

The workers stressed that the Al-Burj Cement Plant is a crucial contributor to Libya’s economy by supplying the local construction market. The plant’s closure has caused significant economic paralysis in Zliten and across the country.

The statement concluded by noting that resuming production will allow the company to distribute and fulfil cement reservations for 2024, which were made on February 8, 2024.

Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations.

Libya’s economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya’s economy.

The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions.

The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition.

Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.

Tags: Cement PlantlibyaZliten
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