"These appointments mark the formal separation of the roles of CEO and president; along with a new executive committee and strengthened leadership of the Board of Directors, these changes reinforce LAR's commitment to strong corporate governance as the company enters a critical phase of operational expansion," reads the statement sent to Lusa.
In the statement, Lobito Atlantic Railway writes that "the strengthened governance structure will help ensure a clear delineation of leadership responsibilities and a more effective strategic positioning, while simultaneously supporting LAR's mission of building transportation infrastructure essential for Angola's economic development and regional integration."
The Board of Directors now consists of the president, Alexandre Canas, with Manuel Mota as vice-president, and directors Julien Rolland, Roberto Ferreira, Dmitry Miller, António Graça, Eric Peiffer, Tiago Ferraria, and Ottoniel Manuel.
The new executive committee also includes Nicolas Gregoir, the new Chief Operating Officer, Domingos Castelão Silva as Chief Financial Officer, and Nuno Chaves Frota as Chief Legal and Compliance Officer.
The Lobito Corridor is a 1,300-kilometer railway line that crosses Angola, connecting the coastal port of Lobito to the border with the Democratic Republic of the Congo to transport critical mineral production from the Copperbelt (DRC) and Kolwezi (Zambia) regions.
The operation is managed by Lobito Atlantic Railway (a consortium that includes the Portuguese company Mota-Egil, the Swiss company Trafigura, and the Belgian company Vecturis), and is expected to involve an investment of nearly US$1 billion, partially financed by the United States Development Finance Corporation (DFC) and the Southern African Development Bank.
This project is also part of the European Global Gateway initiative, with the European bloc announcing a 600 million euro package through the Partnership for Global Investment and Infrastructure (PGII) developed within the framework of the G7.
