Tripoli, January 10, 2025 – The Public Prosecution has ordered the detention of the Resources Management official at the Libyan Iron and Steel Company (LISCO) in Misrata, on the grounds of supplying steel worth $26 million from China that does not conform to specifications.
In a statement, the Public Prosecutor’s Office stated that the prosecutor at the Anti-Corruption Prosecution within the Misrata Court of Appeal conducted an investigation into the regularity of the company’s contracting procedures with the Austrian company (VA INTERADING) for the supply of 50,000 metric tons of primary steel billets (SP 3). The investigations revealed a breach in authorizing the disbursement of $26 million US dollars and approving the receipt of the material supplied from the People’s Republic of China, despite 70 percent of it lacking the quality requirements and specifications necessary for rolling the billets.
The Public Prosecutor’s Office confirmed that this unusual conduct resulted in the seller benefiting from this price contrary to the legislation regulating the management of public funds and prevented the company from incorporating the supplied material into the strategic industry program it is based on.
Based on these investigations, the Public Prosecution decided to detain the company’s Resources official in custody pending investigation and proceeded to determine the responsibility of the other officials managing the contract subject to the preliminary investigation.
Tripoli
Tripoli is the capital and largest city of Libya, with a history dating back to the 7th century BC when it was founded by the Phoenicians. It later became a significant part of the Roman Empire, the Ottoman Empire, and an Italian colony, which is reflected in its diverse architecture, such as the historic Medina and Red Castle.
Libyan Iron and Steel Company
The Libyan Iron and Steel Company (LISCO) is a major industrial complex located in Misrata, established in 1979 as a cornerstone of Libya’s economic development under Muammar Gaddafi. It was designed to utilize local iron ore and gas resources to produce steel for domestic use and export, though its operations have been frequently disrupted by conflict and political instability since 2011.
LISCO
LISCO, or the Liberian Iron and Steel Company, was established in the 1950s as a major industrial venture in Liberia, primarily involving the mining and export of iron ore. Its history is closely tied to international investment and Liberia’s economic development, though operations have been significantly impacted by the country’s civil wars and fluctuating global markets.
Misrata
Misrata is a major port city on the Mediterranean coast of northwestern Libya, historically known as a key trading hub since the Roman era. It played a pivotal and fiercely defended role during the 2011 Libyan Civil War, serving as a stronghold for anti-Gaddafi forces. Today, it is a vital economic center for the country, known for its commerce and industry.
China
China is one of the world’s oldest continuous civilizations, with a recorded history spanning over four millennia. It is home to numerous UNESCO World Heritage sites, such as the Great Wall and the Forbidden City, which reflect its long imperial past and profound cultural achievements.
Austrian company
The Austrian company refers to the Österreichische Nationalbibliothek (Austrian National Library), founded in the 14th century as the Imperial Court Library. It is one of the world’s major historic libraries, originally serving the Habsburg dynasty and now holding a vast collection of manuscripts, maps, and papyri.
VA INTERADING
“VA INTERADING” does not correspond to a known or widely recognized place or cultural site. It may be a misspelling or a reference to a very localized or obscure location. Without verifiable information, a historical summary cannot be provided.
People’s Republic of China
The People’s Republic of China (PRC) was officially founded on October 1, 1949, following a civil war, establishing a socialist state under the leadership of the Communist Party of China. It is the world’s most populous country and has undergone significant economic transformation and development since the late 20th century.
Misrata Court of Appeal
The Misrata Court of Appeal is a major judicial institution in Libya, located in the city of Misrata. It was historically established as part of Libya’s national judicial system following the country’s independence, serving as a key appellate court for the northwestern region. Its role and operations have been significantly impacted by the periods of conflict and political instability in Libya since 2011.
