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Tuesday 15 June 2021
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Libya to privatise nine public industries

The Libyan Industry Minister Suleyman al-Faytouri announced on Saturday that the government intends to privatise nine public industries.

They include the iron and steel company in Misrata and a soft drinks company in Tripoli.

The minister said the government was working on their values before taking a final decision, adding that the process might take about three months.

Libya was one of the biggest producers of iron and steel in North Africa, producing about 1.6 million tons annually.

However, it was forced to reduce production and close its steel works last year because of cuts in power supply.

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