Libya has announced a US$2.7 billion foreign-backed investment to expand the non-oil terminal at the port of Misrata, a project the government says will transform the facility into a major Mediterranean logistics hub and support economic diversification.
The strategic partnership, unveiled on January 18, brings together Qatari, Italian and Swiss companies and targets a sharp increase in the port’s container-handling capacity. Under the plan, annual throughput is expected to rise to about 4 million twenty-foot equivalent units (TEUs), from 685,000 TEUs handled in 2025, according to official figures.
Authorities said the project would significantly expand and modernise Libya’s busiest commercial port, which currently handles between 60 percent and 65 percent of the country’s container traffic. The expansion is aimed at improving cargo flows, reducing congestion and positioning Misrata as a competitive logistics platform serving North Africa and the wider Mediterranean basin.
The development includes the construction of new loading and unloading areas, the modernisation of quays, and upgrades to storage and handling infrastructure. Officials said the improvements would shorten processing times, raise operational efficiency and better meet the needs of domestic and international shipping companies.
Prime Minister Abdelhamid Dbeibah said the investment would be fully financed by foreign partners, avoiding pressure on public finances at a time when Libya continues to grapple with political fragmentation and infrastructure gaps after years of conflict.
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“This structure allows Libya to modernise a strategic asset without burdening the national budget, while sending a clear signal that the country is open to productive foreign investment,” Dbeibah said. He added that the consortium includes MSC, one of the world’s largest container shipping groups, and Qatar-based Al Maha Capital Partners, though officials have not disclosed the detailed allocation of funding among the partners.
Dbeibah said the project reflects the government’s ambition to upgrade key infrastructure, attract long-term capital and turn state-owned assets into platforms capable of generating sustainable economic returns. He also described the expansion as part of a broader effort to strengthen Libya’s position among major regional ports.
The government expects the expanded port to generate around $500 million in annual revenue once fully operational. Officials also estimate that the project could create about 8,400 direct jobs and up to 60,000 indirect jobs, including in transport, logistics, industry and related services.
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Misrata Free Zone chairman Muhsin Sigutri said the partnership demonstrates the city’s determination to build modern, internationally competitive infrastructure that can support employment and stimulate new industrial activities. He added that improved port capacity would help local firms integrate more effectively into regional and global supply chains.
Located roughly 200 kilometres east of Tripoli, the port of Misrata is a cornerstone of the local economy and a critical gateway for imports. Authorities believe that expanded capacity and improved efficiency will boost productivity, attract new shipping lines and encourage private investment in manufacturing and logistics around the port.
The project is also seen as supporting Libya’s long-term goal of diversifying an economy that remains overwhelmingly dependent on hydrocarbons. Oil and gas account for more than 95% of Libya’s gross domestic product and the bulk of government revenue, leaving the country highly exposed to price volatility and production disruptions.
By strengthening trade infrastructure, officials hope to improve Libyan companies’ access to African and Mediterranean markets and reinforce Misrata’s role in trade corridors linking Europe, Africa and the Middle East.
Despite the scale of the investment, authorities have yet to release a detailed implementation timetable or operational roadmap. Analysts note that political stability, regulatory clarity and security conditions will be key factors in determining how quickly the project advances.
If completed as planned, the Misrata expansion would rank among the largest non-oil infrastructure investments announced in Libya in recent years, underscoring renewed efforts by the Tripoli-based government to attract foreign capital and rebuild critical economic assets.
