Libya plans improvement of two main transit routes

Libya Africa Investment Portfolio (LAIP) and the Ministry of Transport met Tuesday to advance plans for 2 strategic transit corridors: the Misurata-Tamanhant-Agadez and Benghazi-Kufra-Sudan routes.

The initiative, authorised below Cabinet Resolution No. 535 of 2024, empowers the Portfolio to have interaction worldwide consultants for feasibility research.

The initiatives might be developed both by means of build-operate-handover programs or strategic partnerships with specialised firms.

Transport Minister Mohamed Al-Shahoubi chaired the assembly with Portfolio officers together with Chairman Mustafa Abu Fanas, Board Member Khalifa Al-Shaibani, and Strategic Planning Director Radwan Al-Nafati. Representatives from the Land Transport Authority additionally attended.

The committee has scheduled technical conferences starting Thursday to determine specialised groups for route planning and assess the feasibility of integrating railway networks into the initiatives.

These transit corridors might considerably improve regional commerce connectivity. The Misurata-Agadez route would offer Niger and different West African nations entry to Mediterranean transport, whereas the Benghazi-Sudan hall might facilitate elevated commerce flows between North and East Africa.

Economic and Strategic Benefits:

– Creation of direct commerce routes between Mediterranean ports and sub-Saharan Africa
– Potential discount in transportation prices and supply instances
– Enhancement of Libya’s place as a gateway for African-European commerce
– Development alternatives for southern Libyan areas
– Improved entry to markets for agricultural and industrial merchandise
– Strengthening of regional financial integration
– Potential for brand spanking new logistics and repair centres alongside the routes

LAIP focuses on growing strategic investments throughout Africa, notably in infrastructure and improvement initiatives.