"The Mota-Engil group, through its subsidiary Mota-Engil Africa, informs that it has entered into a strategic agreement ('therm sheet') with Afreximbank, aiming to support investment in the Corredor do Lobito project, in Angola, specifically in financing the acquisition equipment and other activities essential to the successful development of the project", said in a statement.
This logistics project connects Angola, the Democratic Republic of Congo and Zambia to global markets, through the port of Lobito, in Angola.
The agreement provides for the provision of a medium and long-term financial instrument, worth 175 million euros, which "will allow Mota-Engil Africa to continue with the development of the Lobito Corridor, through the acquisition of modern and advanced equipment".
The construction company assured that it will continue to work in "close collaboration" with all related parties, in order to guarantee the success of this project and promote the region's growth.
"The Mota-Engil group is excited about strengthening this strategic collaboration and is committed to continuing to explore joint opportunities that allow us to contribute to the sustainable development of the African continent, through the promotion of long-term investment with a focus on communities", concluded.
