The Libyan Iron and Steel Company has recently announced a remarkable achievement in its production output, signaling a strong performance from its direct reduction plants. According to Mohamed Al-Radani, the Director of the Operations Department, the company has successfully exceeded its production targets for the third quarter of 2024. This accomplishment reflects not only the efficiency of the facilities but also the commitment of the workforce amid various operational challenges.
In the first and second units of sponge iron production, LISCO set a target of 724,616 metric tons. However, by the end of the third quarter, the actual production reached an impressive 752,284 metric tons. This outcome represents a commendable achievement rate of 103.82%. Such results not only demonstrate the facility's capability but also illustrate effective management and execution of operational strategies.
Similarly, the third unit of hot-molded iron exceeded its production expectations. Initially aiming for 494,944 metric tons, it achieved an output of 519,989 metric tons, reflecting a production rate of 105.06%. These successes contribute significantly to LISCO's overall performance and highlight its pivotal role in the national economy.
Despite these positive developments, the company faces ongoing challenges, particularly concerning the supply of natural gas. This resource is crucial for the production processes, and any shortages can impact output levels. Nevertheless, LISCO remains steadfast in its commitment to achieving its annual production target of 1,580,000 metric tons across all three units in the reduction plants.
In addition to its domestic achievements, LISCO has been active in international markets. Since the beginning of 2024, the company has successfully exported approximately 383,233 metric tons of hot-rolled iron. This export activity not only generates revenue but also positions LISCO as a competitive player in the global steel market.
