[Libya United Steel's Benghazi DRI complex reported at about $2.5bn, targets early 2028 output]

Published: Nov 03, 2026 10:23 (GMT+8)

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Libya United Steel Company (SULB), a privately owned company under Alushibe Holding Group, is developing a direct-reduced iron (DRI) complex near Benghazi in partnership with Turkey's Tosyalı Holding, Alushibe Holding Group chairman Ahmed Gadalla said. The project has reported investment of approximately $2.5 billion, with production targeted for early 2028, and is described as designed to become one of the largest facilities of its kind globally. Capacity, plant configuration, raw material sources, current construction status and financing arrangements were not disclosed. Gadalla said the bigger idea is that Libya can make and export steel, not just oil. [SMM Iron Ore]

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