In a move to overhaul an inefficient industrial sector, Libya is considering the sale of Misrata-based steel plant Libyan Iron and Steel Co (LISCO), along with eight other state-owned companies from various sectors, Libyan Industry Minister Suleiman al-Fitouri has said, as reported by Reuters.
The minister said that the Libyan government is now evaluating the situation before making a decision, a process which may take up to three months.
LISCO is one of North Africa's largest steelmakers, with an annual crude steel capacity of 1.32 million metric tons. The company produces hot briquetted iron (HBI), steel billets, slabs, bars and rods, hot and cold rolled coil and sheets, and galvanized and coated flat steel products. Lately, power shortages have forced the company to cut its output.