Al-Faqih announces an agreement with an American company to establish a solar power plant with a capacity of (25) megawatts

Tripoli, January 7, 2026 (LANA) – The Chairman of the Board of Directors of the Libyan Iron and Steel Company, Mohamed Abdelmalik Al-Faqih, announced the signing of an agreement with an American company to establish a 25-megawatt solar power plant, emphasizing the importance of the government's supportive and encouraging role in renewable energy projects.

This came during an expanded meeting held yesterday in the capital, Tripoli, which included a delegation from the Libyan Iron and Steel Company, headed by Al-Faqih, and the National Oil Corporation, headed by its Chairman of the Board, Masoud Suleiman Musa. The meeting was dedicated to discussing prospects for joint cooperation in the fields of gas and energy, and ways to support the localization of industries related to the oil and gas sector.

The Chairman of the National Oil Corporation welcomed the company's delegation, praising its pivotal role in supporting development projects and commending its sound management and institutional stability.

The Chairman of the Corporation reviewed plans for developing natural gas resources, noting the abundance of Libya's gas reserves and the need to activate targeted development programs in the next phase. He also stressed the importance of localizing industries to secure the oil sector's needs for equipment and spare parts locally.

For his part, the Chairman of the Board of Directors of the Libyan Iron and Steel Company stressed the need for government support for complementary industries based on the company's products, considering them a fundamental pillar for localizing industry.

Al-Faqih discussed the role of the Military Industrialization Authority in supporting and localizing several civilian industries, highlighting its assets, infrastructure, and machinery at the Al-Sabi'ah (47) complex and the Al-Rabita Industrial Complex. He noted that these assets, if activated, could contribute to covering a significant portion of the oil sector's and other sectors' needs for equipment and spare parts.

He also presented a brief overview of the company and its role in supporting development and diversifying the national economy.

The meeting addressed the impact of the current energy deficit and the constraints it imposes on production levels and achieving targets. It also reviewed future plan projects, most notably the fourth direct reduction unit project and its economic importance.

The meeting also discussed the project to establish a pipe manufacturing plant, and it was agreed to form a joint committee between the company and the National Oil Corporation to secure the oil and gas sector's pipe needs.

The meeting addressed the company's natural gas supply requirements, which currently range between 80 and 85 million cubic feet per day, with plans to increase to approximately 205 million cubic feet per day in the future to meet the needs of Unit 4 and other development projects.

Both sides emphasized the importance of prior coordination in scheduling gas pipeline maintenance to minimize supply outages and select the most suitable timing for its execution.

The Chairman of the National Oil Corporation stressed the importance of activating alternative energy sources to cover a portion of the country's electricity needs.

...(LANA)...