Libya has just launched a $2.7 billion USD expansion project for the port of Misrata, with the ambition of making it a major logistics hub in the Mediterranean and a gateway to African markets, beyond just oil revenues. Led by a Qatari, Italian, and Swiss consortium centered around the shipping giant MSC, this project is expected to quadruple the container terminal’s capacity and generate massive economic benefits in terms of jobs and revenue.

A $2.7 Billion USD Mega-Project

The agreement signed in Misrata provides for a total investment of $2.7 billion to develop the free zone terminal, located approximately 200 km east of Tripoli. The project involves expanding the quays, creating new loading areas, and modernizing storage infrastructure to elevate Misrata to the ranks of major transit ports in the Mediterranean.

• The handling capacity is expected to increase from approximately 685,000 TEUs in 2025 to 4 million containers per year, representing a rise of over 22% according to projections.
• The Misrata terminal already handles 60 to 65% of Libya’s container traffic, making it the country’s main non-oil port.

A Structuring International Partnership

The project is based on a tripartite partnership between the Misrata Free Zone Authority (MFZ), the Qatari fund Maha Capital Partners, and Terminal Investment Limited (TIL), a subsidiary of the MSC Group, the world’s leading container shipping company. Investments are entirely financed by the foreign partners, which limits the strain on the Libyan budget while attracting productive capital.

The MFZ oversees the country’s first and largest free zone, with 2,576 hectares already developed and the potential to expand to 20,000 hectares. MSC’s presence is expected to secure significant volumes of traffic and integrate Misrata into major East-West and North-South shipping routes.

Jobs, Revenue, and Economic Diversification

Libyan authorities are counting on this project to create jobs and diversify an economy still more than 95% dependent on oil. The port expansion is presented as an engine of local and national development, capable of stimulating industry, logistics, and services.

• Projections indicate the creation of approximately 8,400 direct jobs and more than 60,000 indirect jobs in related activities (transport, warehousing, services, industry).
• The terminal’s annual revenue is estimated at between $500 and $600 million once the project is fully operational.

Misrata, a new African hub?

Beyond the Libyan market, the goal is to make Misrata a regional platform connecting the Mediterranean to African markets that are still relatively unintegrated into major shipping routes. The port aims to position itself at the heart of the logistics competition in the western Mediterranean, competing with other hubs such as Tangier Med, Algeciras, and Piraeus.

The expansion is intended to improve processing times, service reliability, and Libya’s attractiveness for companies seeking a gateway to North Africa and the Sahel.

The infrastructure modernization is designed as a lever to attract new industrial and logistics activities within the free zone (assembly, processing, re-export).

A test of Libyan stability and attractiveness

This large-scale project is also a test of Libya’s ability to secure long-term foreign investment in a still fragile political context. If successful, it could serve as a showcase for other infrastructure projects and send a strong signal to investors about the country’s logistical and industrial potential.

For the Government of National Accord, the goal is to demonstrate that state assets can become platforms for generating sustainable revenue, beyond hydrocarbons.

For foreign partners, the success of Misrata will influence their appetite for future projects in Libya’s energy, transportation, and free trade zones.