“We have a vision of creating the most important logistics corridor in sub-Saharan Africa.’’
Trafigura CEO Jeremy Weir commented “We believe the Lobito rail corridor has huge potential to boost the development of sectors along the line including heavy industry, agriculture and mining, creating new jobs and new opportunities.”
Pensana CEO Tim George commented: “This investment in rail infrastructure and rolling stock is perfect timing and is expected to have a very positive impact on the transport logistics during the Longonjo construction period and on the reagent and product transport during operations.”
A 30-year concession has been awarded to the Lobito Atlantic Railway consortium comprising Trafigura, a market leader in the global commodities industry, Mota-Engil, an international construction and infrastructure management company, and Vecturis SA, an independent rail operator.
The investment will include 1,555 wagons and 35 locomotives for the Angolan side of the corridor and the investment in training and skills, with dedicated training centres already in place at Huambo and Lobito.
Overall, the consortium plans to invest USD455 million in Angola and up to USD100 million in the DRC and there is the potential to extend the line into Zambia, extending its benefits across the region.
Jeremy Weir speaking on behalf of the Lobito Atlantic Railway concession companies said,
“We see the Lobito rail corridor as a partnership between the private and public sectors. A partnership of three countries – Angola, the DRC and Zambia and of three companies – Trafigura, Vecturis and Mota-Engil.
Our project will not only create a western route to market for goods and materials, but also has huge potential to boost the development of sectors along the rail line including heavy industry, agriculture and mining, creating new jobs and new opportunities.”
Pensana plc (LON:PRE) explores and mines neodymium, praseodymium, and rare earth minerals. The Company’s flagship assets are the Saltend rare earth refinery project in the United Kingdom and Longonjo neodymium and praseodymium (NdPr) Project in Angola.
