Misrata: Prime Minister Abdul Hamid Dabaiba has announced the launch of one of Libya's most significant maritime infrastructure projects, involving a strategic partnership to develop and expand the Misrata Free Zone port terminal with an investment of $2.7 billion. This ambitious project will see participation from Qatari, Italian, and Swiss companies, including MSC, the world's largest shipping company. The expansion aims to boost the terminal's capacity to 4 million containers annually.
According to Libyan News Agency, Dabaiba shared on his social media account that the project not only enhances Libya's standing among the largest ports in the region regarding size and capacity but also depends on direct foreign investment through a comprehensive international partnership. This partnership will oversee development and operation with clear arrangements, ensuring the project is executed without imposing additional burdens on the state budget. Dabaiba emphasized that this initiative aligns with the government's strategy to attract productive external financing to boost the economy, upgrade infrastructure, and transform state assets into platforms for sustainable returns.
The project is anticipated to generate approximately $500 million in annual operating revenue, create 8,400 direct jobs, and approximately 60,000 indirect jobs. It is expected to place Libya at the center of logistical competition in the Western Mediterranean, improve access to African markets, and support regional trade.