Africa-Press – Angola. The Minister of Economy and Planning, Mário Caetano João, considered, this Monday, in Luanda, the Lobito Corridor as the next frontier of the Angolan economy, due to the new dynamics to be implemented.
Speaking after the signing of the financing agreement between Angola and the World Bank (WB), the official highlighted the support of this global financial institution for the development of the private sector and infrastructures to give another dimension to the Lobito branch line.
In this regard, Mário Caetano also highlighted the visit, last week, of the African Investment Bank, with a focus on rural development and increased production, along the aforementioned corridor.
On the other hand, the official said he was encouraging the International Finance Corporation (IFC) to bring funding to the private sector.
In his understanding, the IFC’s incentive is in the sense of “joining the country’s development movement”.
“We have been seeing an interesting dynamic on the side of the transport sector, which managed, in fact, to concession the railway line of the Lobito corridor, by a consortium”, he concluded.
The Lobito Corridor extends from the port of Lobito, bathed by the Atlantic Ocean, and crosses Angola from West to East, passing through the provinces of Benguela, Huambo, Bié and Moxico.
It has a railway length of 1,866 kilometres, 1,344 of which in Angola alone, giving access to the Democratic Republic of Congo (DRC).
The main infrastructure of the Lobito Corridor is the Benguela Railway and the Port of Lobito.
Available data indicate that the Port of Lobito, installed in a total area of 200 thousand square meters, has a handling capacity of 3.6 million tons per year.
In addition to having a dry port, the Port of Lobito has six more specialized terminals and is in the process of being granted a concession
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