Luanda – The consortium Trafigura, Vecturis and Mota Engil announced Friday an investment of around USD400 million in the Lobito Corridor, in coastal Benguela province.
The investment aims, among other things, to ensure the operation of the infrastructure, the rail and logistics services, said Alexandre Canas of Mota Engil company.
Alexandre Canas was speaking to reporters at the end of an audience granted by the President João Lourenço, stating that the project will increase business volume and trade on the Lobito (Benguela)/Luau (Moxico) and the neighbouring Democratic Republic of Congo (DRC) railway section.
To formalise the start of the project, the parties were expected to sign an agreement this Friday (04) for the concession of the referred corridor in Luanda, for 30 years.
The project is expected to generate 1,600 direct jobs for young Angolans.
The tender for the concession to operate the Lobito Corridor was launched in September last year.
The new concessionaire will ensure the transport of goods, such as ores and fuel, and the management of the mining terminal at the port of Lobito.
The revival of the Lobito Corridor is part of the Angolan Executive’s efforts to strengthen regional integration and launch the sub-region’s cooperation commitments.
The project focuses on the Atlantic-Indian interconnection, with the connection of the railroad to the Port of Dar-es-Salam, in Tanzania.
The Lobito corridor comprises the port of the same city and the railways of Benguela.
The two structures extend for more than 1,300 kilometers. The route is the fastest export route for copper, cobalt and other minerals to the neighbouring countries such as Zambia or the Democratic Republic of Congo (DRC).
Source: Angola Press News Agency