Libya Secures Landmark $2.7 Billion Investment for Misurata Port Expansion

By: Chidozie Nwali

In a major move to pivot its economy away from decades of oil dependence, the Libyan Government signed a historic $2.7 billion strategic partnership on Sunday, aimed at transforming the Misurata Free Zone (MFZ) into a premier Mediterranean logistics hub.

The agreement marks one of the largest foreign direct investment (FDI) projects in Libya’s history, notably structured to be funded entirely by international capital without adding any burden to the Libyan state budget.

Terminal Investment Limited (TIL), a subsidiary of the Swiss-Italian shipping giant MSC, the world’s largest container shipping line; and Maha Capital Partners, a Doha-based investment fund specializing in strategic infrastructure and long-term capital oversight, are key players in the project.

“This partnership reflects Misurata’s determination to build modern, internationally competitive infrastructure that can unlock new industries, support local employment, and strengthen Libya’s position within regional and global supply chains,” said Muhsin Sigutri, the free zone’s chairman.

Projections for the project indicate a significant economic windfall, with the expanded free zone expected to generate between $500 million and $600 million in annual operating revenue. Beyond the financial returns, the expansion is set to be a massive engine for employment, creating 8,400 direct jobs and an estimated 60,000 indirect roles across the logistics, transport, and service sectors.

From a logistical standpoint, the modernization will dramatically increase the terminal’s capacity, allowing it to handle up to 4 million containers annually, positioning Misurata as a dominant player in the Western Mediterranean shipping corridors.

The Libyan economy currently relies on oil for more than 95% of its output. By modernizing the Misurata port—which already handles approximately 60% of the country’s non-oil trade—the government hopes to create a viable “North-South” trade axis connecting European markets with the African interior.

The project will involve upgrading the existing 190-hectare zone with state-of-the-art port technology, deepened berths for larger vessels, and expanded storage facilities.

“This project not only enhances Libya’s position among the region’s largest ports but also reflects our commitment to transforming state assets into platforms for sustainable returns,” Prime Minister Dbeibah stated on X

The signing ceremony was more than a commercial event; it served as a signal of returning confidence in the Libyan market despite ongoing political divisions. The presence of top Qatari and Italian officials underscores the geopolitical importance of Misurata as a stable commercial anchor in North Africa.