Libya has signed a $2.7 billion strategic partnership to expand and modernise the Misurata Free Zone, a move aimed at positioning the coastal hub as a major logistics and trade gateway in the Mediterranean. Prime Minister Abdulhamid Dbeibah announced the agreement at a formal signing ceremony attended by international partners, noting that the project aligns with the government’s push to attract foreign capital and reduce reliance on oil revenues, as reported by Reuters.
The deal brings together investors from Qatar, Italy and Switzerland, including global port operator Terminal Investment Limited, part of the MSC Group, and investment firm Maha Capital Partners. Based on details shared by officials, the partnership will finance the expansion of container terminals and supporting infrastructure at the Misurata Free Zone, located about 200 kilometres east of Tripoli. Reuters reports that the upgrade is expected to lift the port’s handling capacity to as much as four million containers annually.
Libyan authorities say the expanded free zone could generate around $500 million in annual operating revenues once fully operational. Government projections also indicate the project may create about 8,400 direct jobs and up to 60,000 indirect employment opportunities across logistics, transport and related services, reflecting its broader economic impact, according to statements cited by Reuters.
Dbeibah said the partnership demonstrates Libya’s commitment to transforming state assets into sustainable sources of growth while accelerating infrastructure development through private investment. He added that the project is structured to rely largely on foreign financing, easing pressure on public finances while supporting long term economic diversification, as highlighted by MarketScreener.
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