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Libya’s Biggest Steel Plant Hit By Power And Gas Shortages

Libya’s Biggest Steel Plant Hit By Power And Gas Shortages

From Daily Star Lebanon

The Libyan Iron and Steel Company (Lisco), one of North Africa’s biggest steelmakers, has seen output slump this year as the turmoil in the country hit power supplies but hopes better security will lift output in 2015, its chairman said.

Chairman Mohamed Abdelmalik al-Faqih also told Reuters Lisco had partly offset weak demand from its European markets by attracting more business from China while meeting output targets for finished products such as reinforced bars (rebars).

Faqih said Lisco, one of Libya’s biggest companies, has been hit by power shortages as armed factions fought over the capital in summer. The closure of oil fields in the east by protesters also temporarily shut a gas pipeline to the plant.

Read more at Daily Star Lebanon