ArabSteel - Libyan Iron & Steel Company (LISCO) organized a workshop on the 30th of September 2010 regarding the investment opportunities in the iron & steel industry in Musratah, Libya. The workshop's slogan was "Partnership for Development"; the first program of its kind for LISCO and with investments exceeding US$2bn. This program was discussed in the presence of local and international investors in the aim of raising the output from 1.7Mt currently to 2.6Mt by the end of first phase in 2012, and then to 4Mt in the second phase up until 2015. Dr. Mahmud Elftise, Secretary of the Administrative Committee in the Libyan Iron & Steel Company (LISCO), said that the company will enter into partnership with some investors in order to realize these projects. He added that the door is open for investments, whether from local or foreign investors. In this context, steel industry has been state-controlled until recently, but is now opening gradually for investors, especially after the new laws in Libya that encourage investment. Dr. Hilal Hussain Al-Tuwairqi, Chairman of the Arab Iron & Steel Union (AISU), said that: "investors - even Arab ones - will not expand their projects if the decision-makers won't protect their products. Only then, any investor will consider expanding from say 1 million tons to five million tons, knowing that the government and decision-makers will protect steel industry". The iron and steel complex, which had entered into production in 1989, includes 7 major companies in addition to a number of production units. It is considered one of the larger projects affiliated to the government of Libya that are now offered for partnership.
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