Luanda - The consortium “Lobito Atlantic Holding and Lobito Atlantic Railway”, S.A announced an investment of USD 248.2 million railway and logistical infrastructures services for support Lobito Corridor.
The announcement was made on Friday in Luanda by the Private Investment and Export Promotion Agency (Aipex).
In its press note sent to ANGOP, Aipex states that the implementation of this private project, Lobito Corridor "Corredor do Lobito", is meant to ensure the rehabilitation, expansion and modernisation of railway infrastructure in the provinces of Benguela, Huambo and Moxico.
The document adds that the initiative covers the revival of the country's economic activity, efficient supply of the internal market, as well as contributing to diversifying the national economy and providing better opportunities for the development of the most deprived regions.
The note stressed that the project, once implemented, will create 1,900 direct jobs, of which 1,800 for Angolans and 12 for expatriates.
The Lobito corridor encompasses the port of Lobito, the mining terminal and the Benguela railroad (CFB), which stretches more than 1,300 kilometers, from Benguela province to Luau, in Moxico province.
It then continues for another 400 kilometers in DRC to Kolwezi, the heart of the mining area known as the Copperbelt in Zambia, and is directly linked to the railway network run by the Sociedade Ferroviária Nacional do Congo (SNCC).
OPF/PPA/TED/NIC
