The Lobito Corridor is part of the projects presented by the Angolan delegation at the World Bank and International Monetary Fund meetings with a view to attracting direct investment.
The managing director of the Atlantic Railwai Consortium, Otoniel Manuel, said that the idea involves presenting everything that has been accomplished within the project, as well as the Executive’s strategies for its promotion.
Otoniel Manuel explained that, although the railway connection has already started operating, there are a series of other projects that need to follow the same pace, because the Lobito Corridor is much more than the Benguela Railways.
According to the managing director, the Lobito Corridor is a vast territory that brings together a series of infrastructures.
“There is also the issue of financing for the construction of more schools along the Corridor, health units and even infrastructure for the development of agribusiness,” he said.
Otoniel Manuel explained that the Benguela Railway is just the most visible face of a project that covers the National Road 100, the six existing airports from Benguela to the cross-border municipality of Luau and the Port of Lobito.
The project, as clarified, has a component linked to transport, in the field of railways, which is already operating, a maritime port component, related to the concession of some terminals, and a land component, related to road rehabilitation.
As part of the Angolan delegation participating in the spring meetings of the World Bank and the International Monetary Fund, Otoniel Manuel stressed that at this stage he will not yet deal with values, but will open doors, inviting the different financial institutions that make up the universe of these two groups, to have “appetite” to invest in Angola.
“The monetary values will arise depending on the feasibility studies that are carried out, taking into account the financing of infrastructures for the Lobito Corridor.”
Ottoniel Manuel said that the strategy to be presented is the one that resulted in the concession of the Lobito Corridor, for a period of 30 years, possibly reaching 50, depending on the achievement of certain goals, to a consortium formed by three European companies with great capacity .
The transfer was made in June 2023 and in January of this year it was carried out.
“Therefore, we are on the right track and we believe that with our arrival, with our participation in Washington, we will leave here with greater financing prospects, especially in the other areas that are part of the Lobito Corridor.”
