Libyan Iron unveils USD 119 million CAPEX plan

June 30, 2008

June 30th (Steel Guru) – Arab Steel reported that Libyan Iron & Steel Company has made 7 contracts worth USD 119 million to upgrade the company’s mill. These contracts have been concluded with several world companies from Italy, China, Turkey and Bosnia of which the Italian companies have taken the biggest share of the value.

These contracts include construction of a station for separation of gases and compressed air. This contract has been concluded with the Chinese company Catic for the supply of machinery and equipment and with two Italian companies, Fritti and Tecnomontagi for the civil and various erection works.

The company has also signed a contract with the Italian Revass for supply and erection of equipment specifically for upgrading the light and heavy sections rolling mill to produce various sizes and qualities of IPE, UPN and IPU.

Libyan Iron & Steel Company has also concluded a contract with the Turkish TML company to extend the port quay as to be 1092 meters long and able to accommodate two ships of a load of 180,000 tonnes of iron ore each, another ship of a load of 50,000 tons of hot briquetted iron and a third ship of a load of 15,000 tonnes for exporting the remaining products. It has also concluded a contract with Key Technologies to set up the cold rolling stand. The Italian Techint company will carry out the erection works and internal transport.

The company has also signed a contract with the Bosnian Enregoinvest to set up a new electric power sub station with 10 to 30 KVA capacity. The completion of these projects is expected within or around 2009 to 2010.

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