https://www.miningweekly.com
Africa|Construction|Copper|PROJECT|rail|transport
Africa|Construction|Copper|PROJECT|rail|transport
africa|construction|copper|project|rail|transport

Trafigura-led group to spend $555m on Angola rail project

5th July 2023

By: Bloomberg

  

Font size: - +

A group of investors led by commodity trader Trafigura Group plans to invest as much as $555-million in a railway project that will link the Angolan port of Lobito to neighboring Democratic Republic of Congo.

The consortium, known as Lobito Atlantic Railways, will spend $455-million on the so-called Lobito Corridor – a 1 344-km-long trade route – as well as up to $100-million on a 400 km railway line in Congo, Angolan Transport Minister Ricardo Viegas d’Abreu said Tuesday in a statement. The group of investors includes Portuguese construction company Mota-Engil Engenharia e Construcao Africa and Vecturis SA, a Brussels-based private railway operator.

Lobito Atlantic has been granted a 30-year concession to operate the Lobito Corridor, with the possibility of it being extended to 50 years if the railway is expanded into Zambia, Viegas d’Abreu said.

Using the so-called Caminho-de-Ferro de Benguela railway will provide faster trade routes to Europe and the Americas from the copper and cobalt-rich areas of Congo and Zambia, according to the statement.

The US has pledged to help finance the project, Angolan President Joao Lourenco said in the statement.

Edited by Bloomberg

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.125 0.162s - 113pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: