A strategic partnership involving Mediterranean Shipping Company (MSC), Qatari investor Maha Capital Partners, and the Misrata Free Zone Authority (MFZ) has secured a $2.7 billion agreement to modernise the container terminal at the Port of Misrata.
The deal, signed in Misrata on Sunday, promises an expansion and upgrade of Libya’s primary non-oil container gateway.
Libyan Prime Minister Abdulhamid Dbeibah, Qatari Prime Minister and Foreign Minister Mohammed bin Abdulrahman Al Thani, and Italian Deputy Prime Minister and Foreign Minister Antonio Tajani attended the signing ceremony.
Misrata currently handles approximately 60-65% of the country’s containerised trade and is the nation’s busiest commercial seaport outside the energy sector.
Under the deal, MSC’s ports subsidiary, Terminal Investment Limited (TIL), will contribute operational expertise, while Maha Capital Partners will focus on the infrastructure investment aspect of the project.
The development includes expansion of the existing container yard, construction of new cargo handling areas, and deployment of state-of-the-art infrastructure to boost efficiency, capacity and traffic reliability.
The initiative aims to lift annual throughput to four million TEU, positioning Misrata as a competitive regional hub linking the Mediterranean, Europe, the Middle East and sub-Saharan Africa. Land corridors from the port extend to southern Libya and the Sahel, reinforcing its role in north-south trade routes.
The agreement has been described as Libya’s largest public-private partnership outside the oil industry.
MFZ chairperson, Muhsin Sigutri, emphasised the strategic value of the development.
“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,” he said.
Sigutri highlighted MSC’s scale – the world’s largest container shipping line with more than 22% global market share, a fleet exceeding 1 000 vessels, and capacity beyond six million TEU – as a driver for enhanced connectivity and competitiveness.
Tajani emphasised the deal’s significance for Italy’s trade interests.
“The presence of MSC, the world’s largest maritime transport company, in the port of Misrata strengthens our presence in the Mediterranean and offers new opportunities for Italy.”
The MFZ spans about 2 576-2 800 hectares, with expansion potential of up to 20 000 hectares. It provides tax exemptions, customs relief, and secure facilities to attract international investment.
This latest development aligns with Libya’s priorities to diversify the economy, enhance logistics infrastructure, and integrate the country more firmly into Euro-African supply chains, Splash 247 reports.
