Angola expands infrastructure with new electric corridor and €1bn railway deal

Angola is advancing major infrastructure projects to enhance regional connectivity and support the mining sector. A 30-year concession has been granted to Somagec Energy Holding and Averi Finance to construct a 1,240-kilometer electric corridor. This project, known as the East Corridor, will connect Malanje province to the Kolwezi mining region in the Democratic Republic of the Congo, providing hydroelectric power to copper and cobalt operations.

Simultaneously, President João Lourenço has authorized a financing package exceeding €1 billion, led by HSBC, to extend the Benguela Railway. The deal covers the construction of a 260-kilometer link between Luena and Saurimo. The financing structure includes credit lines backed by export credit agencies from the United Kingdom, Poland, and the Netherlands. These developments aim to strengthen the Lobito Corridor and reduce energy costs and emissions for strategic mineral production.