The government of Libya has signed a strategic partnership with international firms to expand and develop the Free Zone in Misurata port by attracting an estimated US$2.7 billion in investment.
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In a post on X (formerly twitter) Prime Minister Abdulhamid Dbeibah stated that the agreements, which would be signed with Qatari, Italian and Swiss companies, would help the project generate annual operating revenues estimated at around US$500 million.
“This 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,” wrote Dbeibah.
According to Dbeibah the partnerships also reflects the government’s commitment “to attracting productive external financing to stimulate the economy, modernise infrastructure, and transform state assets into platforms for sustainable returns.” The project would create 8,400 direct jobs and around 60,000 indirect roles and would increase the terminal’s annual capacity to 4 million TEUs. The Libyan economy heavily relies on oil, accounting for more than 95% of its economic output. Misurata is a port city around some 200 kilometers in the east of the capital Tripoli.