Lobito rail deal attracts $753mn funds to power Angola’s minerals corridor

• $753mn financing backs Angola–DRC rail revival
• Lobito corridor to cut mineral transport costs by 30%

LUANDA, ANGOLA – Africa Finance Corporation has secured $753mn in financing to rehabilitate Angola’s Lobito rail corridor, a strategic link set to slash mineral transport costs and boost regional trade.

Africa Finance Corporation (AFC), Africa’s leading infrastructure solutions provider, said it had signed key financing agreements for the Lobito Atlantic Railway (LAR) project, acting alongside Eaglestone as co-financial adviser to Lobito Atlantic Railway S.A., the borrower and concessionaire of the 1,300-kilometre brownfield corridor.