Libya signs $2.7bn deal to expand and develop Misurata Free Zone

Libya has signed a strategic partnership with international investors to expand and develop the Misurata Free Zone (MFZ), aiming to attract an estimated $2.7bn in foreign direct investment, Prime Minister Abdulhamid Dbeibah said on Sunday (18 January).

The agreement is designed to strengthen MFZ’s role as a logistics hub linking Africa, Europe and the Middle East, while diversifying an economy that remains over 95% dependent on oil.

Key developments

• Partnership with port operator Terminal Investment Limited and Doha-based Maha Capital Partners

• Expected operating revenues of around $500m annually

• Port capacity to rise to 4m containers per year across 190 hectares

• Creation of 8,400 direct jobs and around 60,000 indirect roles

The signing ceremony in Misurata, 200km east of Tripoli, was attended by Sheikh Mohammed bin Abdulrahman al-Thani and Antonio Tajani.

ℹ️ Reuters

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Misurata Free Zone (MFZ) Port in Libya. This is Libya’s largest and most commercially active seaport, handling approximately 60% of the nation’s non-oil trade volume. (Gulf Africa Review)
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Libya signs $2.7bn deal to expand and develop Misurata Free Zone
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