The Libyan Iron and Steel Company (LISCO) has signed an agreement with a US firm to build a 25-megawatt solar power plant. The company’s chairman called for stronger government support for renewable energy.
This statement followed talks in Tripoli with the National Oil Corporation on energy and gas cooperation and plans to localize industry.
The two sides agreed to form a joint committee to supply pipelines for the oil and gas sector.
They discussed energy shortages and future projects, including a planned fourth direct-reduction unit.
LISCO’s gas needs are expected to rise from about 80–85 million cubic feet per day to around 205 million.
The NOC chairman stressed the importance of expanding alternative energy sources.
Libyan Iron and Steel Company
The Libyan Iron and Steel Company (LISCO) is a major industrial complex located in Misrata, established in the late 1970s with significant foreign technical assistance. It was designed to be a cornerstone of Libya’s economic diversification away from oil, though its operations have been heavily disrupted by conflict and political instability since 2011.
LISCO
LISCO refers to the Liberian Iron and Steel Company, which was established in the 1970s as part of a major industrial project in Liberia, often involving international investment. It was centered on iron ore mining and processing, playing a significant role in the country’s economy before Liberia’s civil wars severely disrupted its operations.
US firm
The US firm is a general term for a business entity incorporated or operating in the United States, with its history rooted in the country’s commercial and industrial expansion from the 19th century onward. This model of private enterprise has been fundamental to the development of the U.S. economy, evolving through periods like the Industrial Revolution and the rise of modern corporations.
Tripoli
Tripoli is the capital and largest city of Libya, located on the country’s Mediterranean coast. Historically, it was founded by the Phoenicians in the 7th century BC and has since been ruled by the Romans, Arabs, Ottomans, and Italians, which is reflected in its diverse architecture like the ancient Red Castle (Assaraya al-Hamra).
National Oil Corporation
The National Oil Corporation (NOC) is the state-owned oil company of Libya, established in 1970 to manage the country’s hydrocarbon resources. It oversees all aspects of Libya’s oil and gas industry, from exploration to production, and has been a central entity in the nation’s economy and political landscape since its founding.
Italy’s Danieli
Danieli is an Italian industrial company, founded in 1914 by brothers Mario, Aldo, and Timo Danieli, specializing in the design and manufacturing of machinery and plants for the steel industry. It is historically significant for its technological innovations that helped modernize steel production worldwide, evolving from a small workshop into a global leader based in Buttrio.
