The Libyan Iron and Steel Company (LISCO) has reaffirmed its commitment to expanding its global market presence by continuing to export its high-quality products to international markets. In a recent development, the company has commenced the shipment of 8,000 tons of reinforced steel aboard the vessel “SNAPPER” bound for Lebanon, highlighting the growing regional and international demand for LISCO’s steel products.
At the same time, LISCO is proceeding with the export of 30,000 tons of hot-briquetted iron (HBI), currently being loaded onto the vessel “KNIDOS” en route to Portugal.
The company’s management has reiterated its dedication to delivering top-tier steel products that meet international standards, while also reinforcing its role as a key player in the domestic market and supporting the national economy.
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.
