#Libya #MSC Group #Misurata Free Zone #Misurata

Major Investment in Libya's Trade Infrastructure

In a landmark development, the Misurata Free Zone Authority (MFZ) has successfully signed a historic public-private partnership worth $2.7 billion. This partnership aims to modernize, manage, and expand the Misurata Free Zone Port, which serves as Libya's principal container gateway and a crucial maritime hub for commercial activity in the country.

This agreement is particularly significant as it marks the first major infrastructure project of its kind outside Libya's energy sector. It represents a vital shift in the country's economic recovery efforts and its ability to attract top international operators and investors to its strategic assets.

Partnership Details

Under this significant agreement, MFZ has partnered with Maha Capital Partners (MCP), an internationally recognized infrastructure investor based in Doha, and Terminal Investment Limited (TiL), the port operator for MSC, the world's leading container shipping company. Together, these entities aim to transform Misurata Port into a modern, high-capacity facility, enhancing Libya's position in both regional and global trade.

At the signing ceremony, Abdulhamid Aldabiba, the Prime Minister of Libya, emphasized the importance of this partnership. He remarked, "This agreement is a significant step in the economic recovery and modernization efforts of Libya’s infrastructure. It reflects our commitment to rebuilding strategic assets through structured collaboration between public and private sectors, creating conditions for sustainable growth, investment, and international trust."

Muhsin M. Sigutri, President of MFZ, also highlighted the importance of the Free Zone in driving the project. He stated that this partnership exemplifies Misurata's determination to establish competitive international infrastructure, which will foster new activities, support local employment, and bolster Libya's standing within regional and global supply chains.

The Free Zone's Role and Future Plans

Established in 2000 as Libya's first and largest free zone, MFZ oversees an economic area of 2,576 hectares with expansion plans aiming to reach 20,000 hectares. The port managed by MFZ handles approximately 60-65% of Libya's container traffic. This partnership is set to accelerate the complete modernization of the Misurata Free Zone Port in accordance with the highest international standards.

The key features of this infrastructure upgrade include:

• - Enhanced Container Handling Facilities: This upgrade will enable the port to accommodate larger vessels and support more complex logistical chains.
• - Strengthened Integration with Local Industries: The project will promote the growth of SMEs, manufacturing industries, and value-added services within the free zone.
• - Deployment of Modern Port Equipment and Digital Systems: Latest technologies will be adopted to improve operational efficiency.
• - Higher Standards of Safety and Environmental Protection: The partnership is committed to meeting best practices on security, performance, and environmental stewardship.
• - Creation of Sustainable Employment Opportunities: The development is expected to generate both direct and indirect job creation.

Furthermore, this partnership lays the groundwork for the long-term evolution of Misurata into a deep-water port, a strategic ambition crucial for enhancing Libya's maritime competitiveness in the Mediterranean region. This development is part of a broader investment program, rolled out in phases, to secure Misurata’s presence on major international trade routes.

Conclusion

With these investments, Misurata is set to reaffirm its status as one of the most dynamic commercial centers in Libya and a symbol of resilience in the wake of numerous challenges since 2011. The partnership encapsulates a pivotal moment not just for Misurata, but also for the entire Libyan economy, promising a brighter future ahead.