11,172.75 TRY BIST 100 BIST 100
4.56 CNY CNY CNY
33.00 USD USD USD
35.93 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
42.17 TRY Interest Interest
82.37 USD Fossil Oil Fossil Oil
28.80 USD Silver Silver
4.15 USD Copper Copper
103.01 USD Iron Ore Iron Ore
382.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,530.70 TRY Gold (gr) Gold (gr)

LISCO and Danieli sign MoU for innovative direct reduction plant

This MoU represents a significant step toward enhancing iron and steel production capabilities in Libya. The collaboration between LISCO and Danieli promises technological advancements, economic growth, and sustainable development.

LISCO and Danieli sign MoU for innovative direct reduction plant

The Libyan Iron and Steel Company (LISCO) recently signed a significant memorandum of understanding (MoU) with the renowned Italian company Danieli. This strategic partnership aims to launch a project that will implement a direct reduction plant.

  • The project involves the establishment of a direct reduction plant.
  • The factory is expected to produce an impressive two million tons of sponge iron and hot-molded iron annually.
  • Sponge iron and hot-molded iron are in high demand both locally within LISCO and globally.

The project will be a joint venture between LISCO and Danieli, with the Italian company holding a majority stake of 51%, while LISCO retains 49%. Anticipating a swift return on investment, LISCO aims to recoup its capital within eight years following the completion of the implementation work, estimated to take three and a half years.

Located within the premises of the Libyan Iron and Steel Company, the factory will leverage existing infrastructure and benefit from advanced storage, handling, and screening systems for raw materials. Central to its operations will be the utilization of Danieli's cutting-edge EnergIron technology, renowned for its competitiveness with the American Midrex technology.

Danieli's involvement in the project underscores its longstanding partnership with LISCO, marked by successful collaborations in the past. Notably, Danieli has previously implemented steel bar factories with annual production capacities of 400 thousand tons and 800 thousand tons, in 1997 and 2018 respectively. This latest endeavor represents a continuation of their fruitful cooperation and further strengthens ties between the two companies.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In
SteelRadar Insight - Sayı 1 (Haziran 2024)

Most read news

Made in Steel 2025: Steel industry is shaping the future!

Monday, February 26, 2024

Egypt’s rebar market with price fluctuations and competitive offers this week

Tuesday, July 23, 2024

India underlines the important role of green steel in the iron and steel sector

Monday, July 22, 2024

Ermaden discovered a gold mine in Sivas

Tuesday, July 23, 2024

Türkiye's steel bar imports decreased by 14.7% in the January-May period

Monday, July 22, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now