Ricardo D’Abreu, Angola’s Minister of Transport, has reiterated the government’s commitment to connecting the country’s three main national rail corridors, signaling a significant step towards enhancing transportation infrastructure. These corridors encompass the Northern Corridor, spanning the provinces of Luanda, Cuanza-Norte, and Malange; the Central Corridor, famously known as the Lobito Corridor, traversing Benguela, Huambo, Bié, and Moxico provinces; and the Southern Corridor, stretching from Moçâmedes in Namibe to Menongue in
Category: Railway News
PGI Celebrates Finance Agreement Signings for Angolan Projects
Recently, on the margins of the Corporate Council on Africa’s U.S.-Africa Business Summit, the United States and the Republic of Angola celebrated the signing of final agreements to finance three major infrastructure projects in the Partnership for Global Infrastructure and Investment (PGI)’s flagship Lobito Corridor. The agreements, for projects totaling more than $1.3 billion for clean power, radio connectivity, and transportation infrastructure, demonstrate the U.S. government’s continued commitment to support and accelerate
Moçâmedes Railway Incurs Significant Losses Due to Flood Damage
The Moçâmedes Railway (CFM) experienced losses of up to 160 million Kwanzas (approximately 190,704 USD) during the 31-day suspension of train services on the Huíla/Cuando Cubango section. This disruption was caused by heavy rains that washed away two hydraulic crossings. The floods on February 3rd and 4th severely impacted the railway infrastructure, destroying the hydraulic passage between the towns of Chanja and Olivença. Repair works, which took a month to
Angola and US Sign Financing Agreements for Lobito Corridor Development
Angola and the United States of America inked financing agreements worth $1.3 billion in Dallas on Tuesday for the development of the Lobito Corridor, a key beneficiary of the Global Investment and Infrastructure Partnership (PGI). The signed documents, exchanged between Angolan Finance Minister Vera Daves and Reta-Jo Lewis, President of the US Export-Import Bank (EXIM Bank), will fund three infrastructure projects associated with the Lobito Corridor. Additionally, they target investments
Duelling Rail Projects Hint at Intensifying Contest for Africa’s Critical Minerals
This S&P Global Insights article highlights the intensifying global competition for control over the mineral-rich African Copperbelt, spanning Zambia and the Democratic Republic of Congo (DRC). On one side, the Lobito Corridor has received commitments of over $1 billion from private companies, supported in part by a consortium backed by the US and EU. This ambitious project aims to link the northern regions of Zambia and southern DRC directly to
THE LOBITO CORRIDOR, A ROUTE TO AFRICAN DEVELOPMENT?
In this article, Veronica Bolton Smith makes the case that the participating countries in the Lobito Corridor need to do more to become part of the $60 billion Electric Vehicle (EV) battery supply chain. The stakes are high for Africa as the EV battery market is anticipated to more than double in size to $141.6 billion by 2032, according to Apollo Research. A primary goal of the Lobito Corridor initiative
Rail-port movement in Mozambique grew 8% last year
The Mozambican rail-port system transported around 26.6 million net tons in 2023 throughout the country, an increase of around 8% compared to the previous period. On the lines operated by the public company Portos e Caminhos de Ferro de Moçambique (CFM), cargo transportation also grew, reaching around 12.4 million net tons. Although the increase is more modest, only 1% compared to 2023, it reflects the continued activity and importance of
Lobito Corridor guarantees credit for 30% of women’s initiatives
The Angolan Government is currently developing an initiative that aims to boost the granting of credit to national Micro, Small and Medium Enterprises, with the prospect of 30 percent benefiting projects carried out by women. The data was presented, Friday, in the city of Lobito, province of Benguela, by the Secretary of State for Public Investment. Iva Marques dos Santos went to the city of Lobito, in the province of
The Lobito Corridor Sparks Agricultural and Industrial Development
The dynamism of the Lobito Corridor is fueling increased production of agricultural goods by the business class and family producers across six provinces in Angola. Lucas Ábias, acting president of the Chamber of Business Development in Benguela province, made this acknowledgment during the opening of the International Forum for Investment in the Central and Southern region of Angola. Ábias highlighted the positive impact of the corridor’s development on entrepreneurship, particularly
Indian Railways earns ₹4626 crore more in Apr-Dec 2023 than previous year
Indian Railways announced a freight loading of 1154 MT on a cumulative basis from April to December 2023 against last year’s loading of 1109.38 MT, an improvement of 45.28 MT. Railways have earned ₹125106 crore against ₹120479 crore over last year which is an improvement of ₹4626 crore as compared to the same period last year. During the month of December 2023, originating freight loading of 138.99 MT has been