A Trafigura-led consortium pledges R10.5 billion for a key rail project to link Angola, the Democratic Republic of Congo (DRC), and Zambia.
- The Lobito Atlantic Railway will operate for the next 30 years and will be managed by Trafigura, Mota-Engil, and Vecturis SA.
- The railway will provide easy access to East Africa and serve as the shortest and fastest route from the mining district of Kolwezi in the DRC to the port of Lobito.
- The project aims to boost intra-Africa trade, improve economic growth, and enhance logistics corridors in sub-Saharan Africa.
- The Lobito Corridor, once rehabilitated, will connect southern Africa, central Africa, and improve access to the east African region.
- The railway project will involve the operation of 1,555 wagons and 30 locomotives in Angola, with estimated costs of R8.5 billion.
- The consortium plans to invest $455 million in Angola and up to $100 million in the DRC, with the additional investment for Zambia yet to be announced.