Libyan Iron and Steel Company

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 09/09/2010

        
 
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  <=  Japan - JMB - Japanese steel imports to exceed 4 million tonnes       <=  Algeria - AISU - Arab Steel Summit 2011       <=  UAE - Emirates Steel Industries - Alliance to fund Emirates Steel expansion by AED 4bln       <=  EU - Eurometal - 41% increase in EU crude steel production for the first 7 months of 2010       <=  Turkey - Turkish Rebar - Turkish domestic rebar up by $50-60 in the local market     

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 Korean company signs MOU to build a new iron & steel plant in Basra, a cost of 3 billion US dollars
  Al Tuwairqi Group CompaniesLast Update:     01/03/2010 09:22:10
 ArabSteel – Iraqi Industry and Minerals Ministry announced the signing of a preliminary Memorandum of Understanding with STX of Korea to build a new iron & steel plant in Basra.
A source in the Iron and Steel State Company, one of the companies affiliated to the Industry and Minerals Ministry, said that "the company held talks with the Korean company STX concerning building the new plant with the capacity of 3 million tons and a cost of 3 billion US dollars, in addition to a 500 mega watts power station", according to news published by the Ministry of Industry and Minerals.
It is not clear yet whether the new plant will replace the rehabilitation and upgrade process announced earlier by the company which will raise the production capacity to one million tons of sponge iron and another million of billets, in addition to one million tons of rebar, investing 400 million US dollars in the process that have been announced by the Ministry of Industry and Minerals in last September.

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  Last News
Japan - Japanese steel imports to exceed 4 million tonnes
Algeria - Arab Steel Summit 2011
UAE - Alliance to fund Emirates Steel expansion by AED 4bln
EU - 41% increase in EU crude steel production for the first 7 months of 2010
Turkey - Turkish domestic rebar up by $50-60 in the local market
Egypt - Ministry of Industry and Trade refuses to impose customs duties on steel imports and producers demand trade agreements applied
Turkey - Turkish steel export value in July drops by 18pct MoM
Egypt - Ezzsteel: Rebar price increase by US$62 per ton as of September 2010
Bahrain - Phase I of "SULB" iron & steel complex is underway
China - Steel inventory down to 81 million tonnes

Saudi Iron and Steel Union
 

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Iron and Steel State Company
Iraq - Korean company signs MOU to build a new iron & steel plant in Basra, a cost of 3 billion US dollars
Iraq - Steel Industry starts to repair and leveling

  More About
Iraq
New one million tpy steel plant to be built
ArcelorMittal plans rebar JV in Northern Iraq
Korean company signs MOU to build a new iron & steel plant in Basra, a cost of 3 billion US dollars
Iraqi oil contracts need massive amounts of steel and miles of pipeline.
Saudi Astra Industrial Group to take-over 51% of Al-Tanmia for Steel Industry
Allocating 400 million US dollars to Rehabilitate Iron and Steel State Company to produce one million tons of Rehab per year
Iraq: Al-Somoud Company of Steel Industries exploits the available possibilities and sets plans to develop its activities
Steel Industry starts to repair and leveling

More About
Steel Industry
Algeria - Arab Steel Summit 2011
UAE - Alliance to fund Emirates Steel expansion by AED 4bln
Bahrain - Phase I of "SULB" iron & steel complex is underway
Iraq - New one million tpy steel plant to be built
World - MEPS forecasts global crude steel production to exceed 1.6 billion tonnes in 2014
UAE - Emirates Steel seals $1.1 bln financing deal
UAE - New steel plant in Dubai
Oman - Shadeed Steel to launch operations early 2011
Libya - 12% increase in LISCO's production during H1 2010
Qatar  - Qatar Steel enters into contract with Brazilian Samarco to import iron ore pellets
 

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