France’s Africa Global Logistics (AGL) has signed a concession contract to operate the multipurpose and container terminal at Angola’s Port of Lobito in Benguela Province, Report informs via Construct Africa.
The new concession will become effective in the first quarter of 2024.
AGL will manage container activity and the multipurpose terminal, which comprises 1,200 metres of quay and a storage area with a capacity of 12,000 TEUs.
Under the terms of the concession, AGL will invest nearly €100 million (US$109.2 million) to turn the port into a modern, efficient and competitive port platform with the support of Swiss shipping line MSC Group, of which AGL is a part.
The concession to operate the terminal was tendered in January 2023.
AGL says the modernisation of the Port of Lobito will support the development of agricultural schemes, construction projects and tertiary service companies. It will also facilitate the export of minerals such as copper and cobalt to international markets through its connection to the 1,300km Benguela railway network and the planned railway line to Zambia.
In September, the EU and the White House announced they had teamed up to accelerate the expansion of the Lobito transport corridor, supporting the feasibility study for a greenfield railway line between Zambia and Angola.
In late October, the African Development Bank (AfDB) signed a memorandum of understanding to mobilise resources for the Zambia-Lobito railway and the Lobito Corridor.
The bank said it would contribute about US$500 million to the US$1.6 billion project, which includes the construction of about 550km of rail line in Zambia, running from Jimbe on the border with Angola to Chingola in the Zambian copper belt, as well as 260km of main feeder roads within the Lobito Corridor.
