The Tripoli based British Libyan Business Association (BLBA) informed Libya Herald that it held a meeting in Misrata yesterday with the Libyan Iron and Steel Company (LISCO) to expand collaboration with the British steel industry.
The BLBA says the partnership aims to engage British commercial organisations to achieve three key objectives.
The first objective is to engage with British companies specialising in automation, production capacity maximisation, implementation of new technology, design, cost efficiency, and reductions.
The second objective is to provide capacity building and management training courses related to administration to enhance awareness in all management, administrative, and production areas.
The third objective is to provide intensive English language training for the technical and management teams within the company.
Jon Hancock, Chairman of the BLBA, expressed his excitement at this collaboration between LISCO and the BLBA. “This is a pivotal moment for UK commercial engagement with Libya and exciting news for the British steel industry and associated companies, which has historically played a significant role in the development of the industry in Libya,” he said. “The BLBA’s role now is to work with LISCO and British enterprise to ensure that the most positive outcome is achieved so that once again Libya and the United Kingdom partner together in this most important of industries.”
LISCO-specific trade mission between the UK and Libya
Alex Breingan, CEO of the BLBA, announced an upcoming trade mission: “In the very near future, we will be organising a LISCO-specific trade mission between the UK and Libya to explore opportunities within this sector. This sector holds untapped potential due to Libya’s challenges over the past decade. The trade mission aims to generate new opportunities for UK companies to invest in and collaborate with the Libyan steel industry. It will also provide a platform for exchanging knowledge, technology, and expertise between the two countries, paving the way for future growth and development in this crucial sector.
We look forward to welcoming UK companies and visitors and helping them realise the fantastic opportunities within this sector.”
The BLBA explained that its partnership with LISCO and the upcoming trade mission is part of a broader effort to strengthen the economic and commercial ties between the UK and Libya.
Established in the 1970s, LISCO is a state-owned enterprise that operates as a leading producer of steel products in North Africa. The company’s operations include iron ore mining, steel production, and downstream processing of steel products, such as pipes, wires, and sheets. LISCO has a significant presence in the Libyan economy and is a major contributor to the country’s export revenues.
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