• Foreign-led deal targets major expansion of Misrata’s non-oil port terminal

• Capacity planned to rise to 4 million containers a year from 685,000 in 2025

• Project aims to boost jobs, trade, and economic diversification

Libya has announced a $2.7 billion strategic partnership to develop the non-oil terminal of the port of Misrata, a project designed to transform the facility into a major logistics hub in the Mediterranean.

The agreement, unveiled on January 18, involves Qatari, Italian, and Swiss companies and aims to raise the port’s handling capacity to 4 million containers per year, compared with 685,000 twenty-foot equivalent units processed in 2025, an increase of more than 22%.

The project includes the development of new loading areas, modernization of quays, and upgrades to storage infrastructure at the port, which currently handles between 60% and 65% of Libya’s container traffic. The goal is to improve cargo flows, shorten processing times, and better meet the needs of local and international businesses. Authorities are seeking to position Misrata at the center of logistics competition in the western Mediterranean and strengthen its role as a strategic gateway to Africa.

The government expects the port to generate $500 million in annual revenue and create 8,400 direct jobs, as well as around 60,000 indirect jobs. The project is also expected to support regional trade and improve Libyan companies’ access to African markets, contributing to the diversification of an economy still heavily dependent on oil, which accounts for more than 95% of gross domestic product.

The investment will be fully financed by foreign partners. Prime Minister Abdelhamid Dbeibah said this structure would avoid pressure on the national budget while drawing international attention to Libya’s logistics potential. He added that the consortium includes MSC, one of the world’s leading container shipping groups, and Qatari fund Al Maha Capital Partners, although the precise allocation of funding has not been disclosed.

Dbeibah said the project would not only improve Libya’s position among the region’s major ports but also reflects the government’s commitment to attracting productive foreign investment, modernizing infrastructure, and turning state assets into platforms capable of generating sustainable returns.

Misrata Free Zone chairman Muhsin Sigutri said the partnership demonstrates the city’s determination to build modern, internationally competitive infrastructure that can support local employment and open up new industrial sectors.

Located about 200 kilometers east of Tripoli, the port of Misrata plays a key role in the local economy. Expanded capacity is expected to improve productivity, stimulate industrial activity, and attract new investors and shipping lines, reinforcing the port’s strategic position in Mediterranean trade linking Europe, Africa, and the Middle East. No operational timetable or detailed roadmap has yet been released.

Olivier de Souza