What is the planned investment for the Misrata port expansion in Libya?

The project aims to attract investments worth $2.7 billion.

Which countries are involved in Libya's Misrata port development deal?

Libya is partnering with Qatari, Italian, and Swiss companies for the port's expansion.

How many jobs will the Misrata Free Zone port expansion create?

The expansion is expected to generate approximately 8,400 new jobs.

Home / Business and Economy / Libya Seals $2.7B Port Deal with Qatar, Italy, Switzerland

Libya Seals $2.7B Port Deal with Qatar, Italy, Switzerland

19 Jan

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Summary

Libya partners with Qatari, Italian, and Swiss firms for port expansion.
The project targets $2.7 billion in investments and 8,400 new jobs.
Misrata's port expansion aims to quadruple container capacity annually.

Libya Seals $2.7B Port Deal with Qatar, Italy, Switzerland

Libya has entered into a pivotal partnership with Qatari, Italian, and Swiss firms to significantly expand and develop its Misrata Free Zone port terminal. This strategic initiative is designed to attract foreign direct investment totaling $2.7 billion.

The project is anticipated to yield substantial economic benefits, with projections of around $600 million in annual operating revenue and the creation of approximately 8,400 employment opportunities. A key objective is to boost the terminal's throughput capacity to 4 million containers per year.

This development underscores the importance of the Misrata free zone, established in 2000 and home to Libya's largest commercial port, which currently handles 60% of the nation's non-oil trade. The agreement emphasizes reliance on foreign investment, ensuring no additional burden on Libya's state budget.