A strategic partnership led by Mediterranean Shipping Company (MSC), alongside Qatari investor Maha Capital Partners and the Misrata Free Zone Authority (MFZ), has secured a landmark US$2.7 billion agreement to modernise and expand the container terminal at the Port of Misrata.
The deal marks a major milestone in Libya’s efforts to upgrade its logistics infrastructure and diversify its economy beyond hydrocarbons.
Signed in Misrata on Sunday, the agreement will significantly expand and upgrade Libya’s primary non-oil container gateway.
The signing ceremony was attended by 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, underscoring the project’s regional and international significance.
Misrata currently handles between 60% and 65% of Libya’s containerised trade, making it the country’s busiest commercial seaport outside the energy sector.
Under the agreement, MSC’s ports subsidiary, Terminal Investment Limited (TIL), will provide operational expertise, while Maha Capital Partners will lead infrastructure investment for the development.
The modernisation programme includes expansion of the existing container yard, construction of new cargo handling areas, and deployment of state-of-the-art port infrastructure designed to improve efficiency, increase capacity, and enhance traffic reliability. Once complete, the development aims to lift annual throughput capacity to four million TEU.
This expansion will position Misrata as a competitive regional hub connecting the Mediterranean, Europe, the Middle East and sub-Saharan Africa. Strategic land corridors extending south from the port into Libya’s interior and the Sahel further reinforce its importance in facilitating north–south trade routes across the continent.
The agreement has been described as Libya’s largest public-private partnership outside the oil industry, reflecting growing confidence in the country’s logistics and trade potential. MFZ chairperson Muhsin Sigutri highlighted the strategic importance of the project.
“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 also emphasised the role of MSC in enhancing the port’s connectivity and competitiveness, noting that the shipping group is the world’s largest container line, with more than 22% global market share, a fleet of over 1 000 vessels, and capacity exceeding six million TEU.
Italian Deputy Prime Minister Antonio Tajani highlighted the deal’s importance for Italy’s commercial interests in the region.
“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 Misrata Free Zone covers approximately 2 576 to 2 800 hectares, with potential expansion of up to 20 000 hectares. It offers tax exemptions, customs incentives and secure facilities aimed at attracting international investors across logistics, manufacturing and trade-related industries.
The terminal modernisation aligns closely with Libya’s broader priorities to diversify its economy, strengthen logistics infrastructure and integrate more deeply into Euro-African supply chains, reinforcing Misrata’s role as a gateway for regional and global trade.