Misrata Free Zone Port Terminal Set for Massive $2.7 Billion Expansion

Tripoli based Libyan Prime Minister, Abdel Hamid Aldabaiba, announced today the launch one of the largest maritime infrastructure projects in Libya’s history, through the signing of a strategic partnership to develop and expand the Misrata Free Zone port terminal. Aldabaiba said the project, with investments reaching US$ 2.7 billion, involves Qatari, Italian, and Swiss companies, most notably MSC, the world’s largest shipping company, and aims to increase the terminal’s capacity to 4 million containers annually. Continuing, he said the project not only enhances Libya’s position among the region’s largest ports in terms of size and capacity, but it also relies on direct foreign investment within a comprehensive international partnership. This partnership will handle development and operation according to clear arrangements, ensuring the project’s implementation without placing additional burdens on the state budget. It reflects our commitment to attracting productive external financing to stimulate the economy, modernize infrastructure, and transform state assets into platforms for sustainable returns. Aldabaiba further revealed that the project is expected to generate approximately US$ 500 million in annual operating revenue, create 8,400 direct jobs and around 60,000 indirect jobs, position Libya at the heart of the Western Mediterranean logistics competition, enhance access to African markets, and support regional trade.