The Libyan Iron and Steel Company has signed a $3.2 million agreement with the state-owned engineering firm Energoinvest in Bosnia and Herzegovina to build power plants in the city of Misrata. The Bosnian company said in a statement on Monday that the project involves the implementation of an integrated system, including design and engineering, the supply and delivery of equipment, electrical and civil works, and the installation, testing, and commissioning of the new power plants.

Competition with 11 Companies

The company explained that it was selected following a competition with 11 companies from various countries. The statement did not specify the start date for implementation or the expected production capacity.

On Monday, the Chairman of the Board of the Libyan Iron and Steel Company, Mohamed Abdulmalik Al-Faqih, accompanied by a number of company officials, received the Ambassador of Bosnia and Herzegovina to Libya, Sinad Mašović, and his accompanying delegation.

The company explained in a statement on its Facebook page that the meeting comes within the framework of strengthening bilateral relations and opening new horizons for cooperation between the company and its counterparts in Bosnia and Herzegovina, in addition to continuing the discussions that began during the Libyan-Bosnian forum hosted by the company last March.

During the visit, the ambassador watched an introductory video about the company’s production process and capabilities, as well as its achievements in various fields of the iron and steel industry, according to the statement.

Joint Cooperation Agreement

At the conclusion of the visit, a joint cooperation agreement was signed between the two sides, thereby strengthening areas of partnership, opening broader horizons for coordination in fields of mutual interest, and serving the goals of industrial development.