Beijing-based China Harbour Engineering, a subsidiary of China Communications, has signed an agreement in principle to build infrastructure in the Misurata Free Zone (MFZ) in Libya.
Located on the coast some 190km east of Tripoli, the zone is being billed as the “gateway to Africa” for investors.
The agreement was signed during the North African International Conference and Exhibition for Ports and Free Zones, held in Misurata over the weekend.
The Libya Observer reports that China Harbour will conduct a feasibility study for the development of sites A and B, which together make up the whole of the MFZ.
Site A refers to a plot of 530ha that includes the port of Misurata (or Misratah). Site B is a 3,000ha site located 8km southeast of the port.
The aim is to turn MFZ, Libya’s first special economic zone, into a hub for investment in North Africa.
Misurata has a population of 881,000, making it the third-largest city in Libya, after Tripoli and Benghazi.
It is known as the commercial hub of the country and is surrounded by flat land considered suitable for development.
Source : GCR