Mota-Engil company invests US$555M in Angola and Congo

Lobito Atlantic Railways, a co-owned Mota-Engil consortium, is to invest up to €555 million in Angola and in the Democratic Republic of Congo.

LAR is a company that was set up by Mota-Engil Africa, the Swiss firm Trafigura and the Belgian company Vecturis which won the railway infrastructure project competition for the Lobito corridor.
Mota-Engil will invest US$455 million (around €417 million) in Angola and up to US$100 million (€92 million) in the Democratic Republic of Congo.
In the future, and depending on how fast this railway link to Zambia is achieved and the investment goes, “other investments will follow” added LAR during the ceremony in which the concession was officially granted to the consortium by the Angolan State.
Carlos Mota Santos, the CEO of Mota-Engil who was present at the ceremony and signed the 30-year contract, said it was a “reason to be proud” and be able to “contribute in such a relevant and dynamic way” to a project that in the future will be the most important logistics corridor in subsaharan Africa.
It is his understanding that the “partnership between the companies will bring progress and development in commercial relations between Angola, the Democratic Republic of Congo and Zambia and is a project that we feel will be just the beginning of what we will do in the future”.