“Steel is the future: we have good prices and a great export potential”

ABDULLA YAHYA Chief of the Popular Committee at the Engineering Industries Company

A state-run enterprise attracting considerable interest as it awaits privatization is the Engineering Industries Company, which manufactures products ranging from steel structures and transmission line towers to barbed wire and nails. The company also produces gas cylinders and windmills to extract water for irrigation.

All its products comply with international specifications, and its experience in a growing industry has brought it to the attention of potential investors in both the United States and Europe.

“A lot of companies are really interested in working with us here,” says the Chief of its Popular Committee Abdulla Yahya. “We have recently made contact with American companies, and they are very happy with our products.”
Like other Libyan firms, the Engineering Industries Company is looking for investors who can bring technological know-how as well as capital. “We are very interested in creating partnerships with these companies,” says Mr. Yahya.

The firm’s facilities include two galvanizing plants with a combined installed capacity of 40,000 metric tons per year, one a state-of-the-art facility set up in 2001. Its transmission tower line plant has a production capacity of 24,000 metric tons per year for towers up to 800 kV.

The Engineering Industries Company is awaiting privatization.

Mr. Yahya says Libya is a good place to invest; the cost of energy is low and land is very cheap. He urges U.S. investors to seize the opportunities while they are available.

“Until now, not many foreign companies have come to this country, but they will come—especially in this field. In five years time, you will not find a location like this one. We feel that we are the safest place in the world.”

He believes the future is particularly promising for his own industry, both in terms of the local market and in terms of exporting to neighboring countries.

“Steel is the future, especially for houses and buildings, and our production will be needed more and more. Exports have potential because our prices are very good,” he says.