By Taher Zaroog.
Tripoli, 10 December 2013:
LISCO, the Libyan Iron and Steel Company, has seen November sales in excess of LD 40 . . .[restrict]million, the Misrata business’s highest since the revolution. The company has also said that its production of reinforced steel reached yearly production targets two months ahead of schedule.
Mohamed Abdul-Malik, the Chairman of LISCO, has told the Libya Herald that, despite working with power shortages and fierce international competition, the company was able to respond to the growing demand, particularly for iron in Libya. The increased sales and production for the iron and steel company indicate, Abdul-Malik said, the effects of reconstruction work in the country and growth in the economy.
LISCO is currently running only one in three of its iron bar manufacturing plants because of power shortages and reduced natural gas supplies. Abdul-Malek denied media speculation that the Ministry of Industry had any intention of selling some of the company’s plants. He said that LISCO is determined to continue to move forward, expanding its production.