Trafigura-Led Group to Invest $555 Million in Angola Railway
- Railway will link DR Congo to port of Lobito in Angola
- US has pledged to help finance the project: Angolan president
The Angolan port of Lobito.
Photographer: Wolfgang Kaehler/LightRocket/Getty Images
A group of investors led by commodity trader Trafigura Group plans to invest as much as $555 million in a railway project that will link the Angolan port of Lobito to neighboring Democratic Republic of Congo.
The consortium, known as Lobito Atlantic Railways, will spend $455 million on the so-called Lobito Corridor — a 1,344 kilometer-long trade route - as well as up to $100 million on a 400-kilometer railway line in Congo, Angolan Transport Minister Ricardo Viegas d’Abreu said Tuesday in a statement. The group of investors includes Portuguese construction company Mota-Engil Engenharia e Construcao Africa and Vecturis SA, a Brussels-based private railway operator.