LISCO signs an agreement of understanding with a Turkish company to develop the sectors factory
The Libyan Iron and Steel Company announced the signing of a memorandum of understanding today with the company «B. L. C »Turkish rolling business, to develop the sectors’ factory, as well as some other maintenance.
According to the company, in a statement on Wednesday, a memorandum of understanding was signed today between the company’s management and «B. L. C »Turkish rolling business.
The memorandum stipulated the cooperation between the two companies in developing the sectors factory, continuous casting machines at the Steel Factory 2, and maintaining the first furnace in the hot-rolled strip factory, as well as providing spare parts for the bars and bar factories.
It is noteworthy that the Libyan Iron and Steel Company was established in 1979 on an area of 1,200 hectares, and includes 4 production lines in the factory for rolling bars and skewers, two steel plants, and two others for hot and cold rolling.
The company’s exports exceeded 50,000 tons of rebar during the year 2019, and Algeria and Lebanon were the main destination for these exports, according to the latest data published by the company on its website.