Africa-Press – Angola. Lobito Atlantic Railway (LAR) secured USD 753 million in funding on Wednesday (17) in Washington, D.C., from the U.S. International Development Finance Corporation (DFC) and the Development Bank of Southern Africa (DBSA) to boost the Lobito Corridor.
The funding is earmarked for the rehab of the 1,300-kilometer railway line in Angola, which connects the Lobito Port Mining Terminal to Luau, on the border with the Democratic Republic of Congo (DRC).
According to a LAR’s statement, the mobilized amount will allow for the modernization of the railway infrastructure, including the railway track, workshops, signaling systems, and rolling stock.
The document emphasizes that this restructuring will strengthen the capacity, efficiency, and reliability of the shortest and most direct import and export route between the Copperbelt mining region in the DRC and international markets via the Atlantic Ocean.
According to LAR’s CEO, Nicholas Fournier, quoted in the statement, the funding from DFC and DBSA represents a decisive milestone in the ambition to position the Lobito Corridor as Africa’s main trade route.
He stressed that the resources now mobilized, will allow LAR to significantly increase capacity, improve operational efficiency and strengthen economic connectivity in Angola and throughout the region.
Lobito Atlantic Railway (LAR) is an Angolan railway operator with an independent management team specializing in railway infrastructure.
Under a 30-year concession, LAR is responsible for the modernization, maintenance and operation of the 1,300-kilometer railway line linking the Port of Lobito to the municipality of Luau (Moxico Province), on the border with the Democratic Republic of Congo.
It also operates the Lobito Port Mining Terminal, directly connected to the railway line, ensuring a faster and more efficient service in one of the least congested ports on the Atlantic coast.
The company provides rail services to national and international clients, including mining companies, private operators, logistics service providers and regional operators, with direct access to global markets.
LAR is owned by Lobito Atlantic Holdings (LAH), a consortium made up of the European companies Trafigura, Mota-Engil and Vecturis.
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