Libya has signed a strategic partnership with international firms to expand and develop the Misurata Free Zone, a project the government says will attract about $2.7bn in foreign investment and help diversify the country’s oil-dependent economy.
Prime Minister Abdulhamid Dbeibah announced the agreements on Sunday, saying the expanded zone could generate operating revenues of around $500m a year.
“This project not only enhances Libya’s position among the region’s largest ports in terms of size and capacity, but it also relies on direct foreign investment within a comprehensive international partnership,” Dbeibah said in a post on X.
The Misurata Free Zone signed the deal with Terminal Investment Limited, which is expected to help turn the port into a competitive logistics hub linking Africa, Europe and the Middle East.
Doha-based Maha Capital Partners also joined the partnership, providing long-term capital and strategic oversight.
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Dbeibah said the project reflects the government’s commitment “to attracting productive external financing to stimulate the economy, modernise infrastructure, and transform state assets into platforms for sustainable returns”.
Libya’s economy remains overwhelmingly dependent on hydrocarbons, with oil accounting for more than 95 percent of economic output. Officials see the Misurata project as a step towards broadening the country’s economic base.
According to Dbeibah, the expansion is expected to create about 8,400 direct jobs and roughly 60,000 indirect roles, while raising the terminal’s capacity to four million containers a year. The port currently covers around 190 hectares, according to the free zone’s website.
The signing ceremony took place at the Misurata Free Zone and was attended by Dbeibah, Sheikh Mohammed bin Abdulrahman al-Thani and Antonio Tajani.
“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.
Libya has faced prolonged instability since the 2011 NATO-backed uprising, with rival administrations emerging in the east and west in 2014, complicating efforts to rebuild state institutions and revive the economy.
