Arab Steel Summit

Report of the Libyan Iron and Steel Company in the light of the Coronavirus pandemic

The Libyan Iron and Steel Company was keen to abide by all instructions issued by the Presidential Council and the competent authorities affiliated to the Ministry of Health in the Government of Concord.

The company’s management has held many meetings with specialists to develop plans, precautionary and preventive measures to confront the Coronavirus, take appropriate responses and remain on guard in anticipation of any sudden changes.

The company created a committee to supervise the follow-up of the implementation of the minutes of the company’s board of directors meeting on 15/3/2020 regarding the fight and the prevention of the spread among its employees.

Accordingly, the Company board of directors issued a set of decisions, related to setting working hours, guiding workers to follow some administrative and security procedures to regulate the workflow, reducing overcrowding, lack of convergence, and reducing the number of workers existing in the factories and in the administrative facilities to the lowest possible as to ensure their safety.

Another decision was issued on 20/5/2020, regarding the returning company to the usual working hours for all employees while continuing to apply the safety measures fixed for the prevention from the Coronavirus outbreak.

Through the performance of the committee, the company was keen on setting an expanded work plan to follow up all the precautions and preventive measures to confront the pandemic, as the committee took upon itself many things, including:

  • Issuing general instructions and guidelines and preventive measures.
  • Providing and distributing protective needs and supplies.
  • Performing sterilization and disinfection campaigns by specialized teams.
  • Attention to media and awareness programs and rationalization of workers.
  • Lifting the emergency cases according to the stages specified in the response plan of the National Centre for Disease Control.
  • Allocate the emergency budget to meet the needs required to address the pandemic.

It is worth noting that, praise be to God, the efforts of the competent authorities in the Libyan Iron and Steel Company. In addition, with the awareness of employees on precautionary instructions and procedures, no coronavirus cases have been registered to date.

The volume of production lost due to the Corona virus during the period March to May 2020

Factory Realized amount of production tonnes Amount of lost production tonnes
March April May March April May
DRI 46 0 36.997 2.82 39.59 7.437
Steel manufacturers 23.318 0 2.383 13.748 54.892 4.457
Rebar Rolling 50.853 5.015 11.093 11.047 51.488 2.418
 Sectors Rolling 910 0 0 742 818 765
Wire Rolling 115 0 17 117
Hot Rolling 18.964 0 18 6.983 17.2 932
Cold Rolling 6.198 0 0 2.689 5.533 1.362

The lost revenue as a result of the interruption of production during the period March-May 2020

Product Volume of lost product /Tonnes Total lost production Average selling price in Libya Dinar / tonne Total value in Libyan Dinar
March April May
Bar 8.874 50.136 881 59.891 2.1 125,776,140
Rebar 2.173 1.352 1.537 5.062 2.351 11,903,226
Sectors 742 818 765 2.325 2.295 5,335,875
HRC 6.771 16.692 932 24.395 1.995 48,678,309
HBI 2.82 39.59 7.437 49.847 327 16286220
Total (Libyan Dinar) 207,979,770
The value of HBI sales is equivalent to the dollar 11,514,557
Fixed costs during the period (Libyan Dinars) 56,752,174