Africa-Press – Angola. Lobito Atlantic Railway, the operator of the Lobito railway, announced the appointment of Nicholas Fournier and Alexandre Canas as new directors of the company, with the aim of implementing the new “critical phase of operational expansion”.
“These appointments mark the formal separation of the roles of CEO and president; together with a new executive committee and strengthened leadership of the Board of Directors, these changes reinforce LAR’s commitment to strong corporate governance, at a time when the company enters a critical phase of operational expansion,” reads the statement sent to Lusa.
In the text, Lobito Atlantic Railway writes that “the strengthened governance structure will help ensure a clear delineation of leadership responsibilities and a more effective strategic positioning, while simultaneously supporting LAR’s mission to build essential transport infrastructure for Angola’s economic development and regional integration.”
The Board of Directors is now composed of the president, Alexandre Canas, with Manuel Mota as vice-president, and Julien Rolland, Roberto Ferreira, Dmitry Miller, António Graça, Eric Peiffer, Tiago Ferraria and Ottoniel Manuel as directors.
The new executive committee also includes the new Chief Operating Officer, Nicolas Gregoir, Domingos Castelão Silva as Chief Financial Officer and Nuno Chaves Frota as Chief Legal and Compliance Officer.
The Lobito Corridor is a railway infrastructure that crosses Angola over 1,300 kilometers, connecting the port of Lobito (coastal) to the border with the Democratic Republic of the Congo to transport the production of critical minerals from the Copperbelt (DR Congo) and Kolwezi (Zambia) regions.
The operation is ensured by Lobito Atlantic Railway (a consortium that includes the Portuguese Mota-Egil, the Swiss Trafigura and the Belgian Vecturis), and should involve an investment of almost one billion dollars, partially financed by the Development Finance Corporation (DFC), from the United States, and the Development Bank of Southern Africa.
This project is also part of the European Global Gateway initiative, with the European bloc announcing a 600 million euro package through the Partnership for Global Investment and Infrastructure (PGII) developed within the scope of the G7.
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