A consortium led by Trafigura, a multinational commodities trader, has committed R10.5 billion to a railway project that will connect Angola’s Lobito port with the Democratic Republic of Congo (DRC) and Zambia.
Reports by News24 state that the Lobito Atlantic Railway will be operated, managed, and maintained by the consortium, which includes Trafigura, Mota-Engil, and Vecturis SA, for the next 30 years.
“The project aims to provide a direct route for the transportation of goods along the 1,300km corridor, connecting the mining district of Kolwezi in the DRC to the port of Lobito and extending to Zambia’s copper belt.”
The railway will also offer a faster and more efficient transportation option within Angola and an alternative to congested East African ports for exports and imports to Europe and the Americas.
The extension of the corridor to Zambia is expected to boost intra-African trade.
Reports indicate that the exact funding required for the addition of Zambia has not been disclosed at this time.