Industry Segment: Market Brief | Word Count: 89 Words

Libyan Iron and Steel Company (Lisco), one of North Africa's largest steel producers, plans to invest $1 billion to build two new plants, with the aim of increasing its production capacity to 2 million tons per year and decreasing Libya's dependency on imports. Lisco plans to attract foreign companies to build two plants to produce billets with a tender worth $1 billion, which is likely to be launched within months. When completed, the projects will feed Lisco's new 800,000 ton-per-year bar mill, which was commissioned last year.