According to a note released this Thursday, in Luanda, the agreement to be signed in Porto do Lobito, Benguela province, will accelerate the growth of domestic and cross-border trade along the corridor that crosses the three countries of Southern Africa.
The cooperation instrument should also "strengthen the coordination" of joint development activities along the corridor and promote the effective participation of small and medium-sized companies in value chains.
The agreement will also allow "the development of infrastructures in a coordinated and coherent way aligned with the SADC Treaty, protocols and development frameworks such as the Indicative Plan for Regional Strategic Development 2020-2030", refers in the note.
The Lobito Corridor presents a strategic alternative route to the Zambian and DRC export markets and offers the shortest route between the main mining regions of these two countries to the sea.
According to the statement, in Angola, the corridor connects 40 percent of the country's population and "several large-scale investments" are taking place in agriculture and trade in the provinces of Benguela, Huambo, Bié and Moxico.
The ministers will visit the Benguela Railway and the Port of Lobito, with a presentation of the Lobito Corridor by Atlantic Railway, a consortium formed by Trafigura, Vecturis and Mota-Engil, responsible for the operation, exploration and maintenance of the rail transport of goods and logistics, for a period of 30 years, extendable for another 50 years, if you choose to build the Luacano (Moxico) – Jimbe (Zambia) rail branch.
The Lobito Corridor extends from the port of Lobito, bathed by the Atlantic Ocean, and crosses Angola from west to east, passing through the provinces of Benguela, Huambo, Bié and Moxico. It covers the mining areas of Katanga Province, DRC, and Copperbelt, Zambia.
