The Libyan Prime Minister Abdul Hamid Dbeibah has announced the launch of the Misrata Free Zone project with a plan to build a new container terminal. The project is being signed along with the Italian company Mediterranean Shipping Company (MSC) and the Qatari company Al-Maha Capital who will operate the port and develop a new deep-water container terminal. Italian Foreign Affairs Minister Antonio Tajani is present for the signing ceremony along with Qatari Prime Minister and Foreign Affairs Minister Mohammed bin Abdulrahman Al-Thani.
The Libyan Prime Minister said that the investment will total up to $2.7 billion and will increase the Free Zone port’s handling capacity to 4 million containers annually. It is expected to generate operating revenues estimated at $500 million annually while providing 8,400 direct and 60,000 indirect job opportunities, the Prime Minister said.
The Libyan press is reporting that Qatar and Libya are to sign at least three agreements including a deal to build passenger terminal 2 at Tripoli International Airport, and agreement on the oil and gas sector.
According to a statement issued by Italy’s Ministry of Foreign Affairs, Italy’s trade with Libya has increased substantially in 2024 with exports increasing by 36% and bilateral amounting up to €9.5 billion in total. Italy mainly exports refined petroleum products, ships and boats to Libya, while Italian imports from Libya mostly consist of crude oil (91.6%) and natural gas (5.4%).
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