Zambia-Lobito railway nears financial close
By the AFREEQUE newsroom, based on The Maravi Post
The approximately 830-kilometre Zambia-Lobito railway project has passed several stages towards financing, with companies selected for the works and letters of intent covering about 2 million tonnes a year. President Hakainde Hichilema reviewed progress with Africa Finance Corporation on 6 November.
The approximately 830-kilometre Zambia-Lobito railway project between Chingola in Zambia’s Copperbelt and Luacano, Angola, is advancing towards financial close planned for 2027. Zambian President Hakainde Hichilema and executives from Africa Finance Corporation (AFC), the project’s lead sponsor and developer, reviewed its progress on 6 November in Lusaka.
AFC has already selected preferred bidders for the engineering, procurement and construction contracts for the Zambian and Angolan sections. The project has also secured memoranda of understanding and letters of intent from prospective users representing about 2 million tonnes of freight per year, according to AFC.
In the longer term, the commercial strategy targets about 5 million tonnes of goods per year, including copper, cobalt, zinc, petroleum products and agricultural products. The journey between the Copperbelt and the port of Lobito is expected to take about seven days, while the next steps include right-of-way and land issues, according to AFC.
The railway is to link the Copperbelt to the Atlantic Ocean via Angola’s port of Lobito, using the existing Benguela Railway. It is part of the Lobito Corridor, to which President Hakainde Hichilema had reaffirmed Zambia’s commitment on 2 November. Hichilema reaffirms Zambia’s commitment to the Lobito Corridor.
