Francisco Franca was speaking in Luanda at the meeting "ESG in Angola - Challenges and opportunities", organized by the Portugal - Angola Chamber of Commerce and Industry (CCIPA), where he highlighted that, to date, investments have been made by shareholders.
The Lobito Atlantic Railway consortium is formed by Trafigura, Mota-Engil and Vecturis, which obtained, in 2022, the concession to operate and manage for 30 years the so-called Lobito Corridor, which includes the Lobito mineral terminal and the Benguela railway, which crosses Angola for more than 1300 kilometers, to the Democratic Republic of Congo (DRCongo).
At issue are loans worth 748 million dollars, of which 553 million will come from the North American entity DFC (International Development Finance Corporation) and 195 million dollars from the Development Bank of Southern Africa (DBSA), in addition to the 187 million invested by shareholders representing about 20 percent of the project costs.
Francisco Franca pointed out that the Lobito Corridor has existed for 100 years and has been a driver of Angola's growth, adding that he has no doubt that the project will be a success, and highlighting the efficiency that the concession has brought to the infrastructure.
"We only started receiving rolling stock at the end of last year, we started the operation with the same means (that already existed), improving the efficiency of management and means", highlighted the executive, adding that 4200 trains circulated in the Lobito corridor last year, the majority of which were passenger trains (3400).
The number will increase this year and in the coming years with the arrival of more rolling stock that will allow for an increase in cargo volumes.
Essentially, this strategic transport route that links the mineral-rich regions of the DR Congo (such as Katanga province) to the Atlantic Ocean transports minerals, agricultural products and food.
"We are investing in rolling stock and we are going to increase cargo volumes, so it is important to close the financing to make these investments, but they are being made and it is not because it is sooner or later that the shareholders do not invest in the project", assured the president of the Board of Directors of LAR.
