Angola, Zambia and Democratic Republic of Congo (DRC) agreed to establish a new agency that will oversee the development of a trade corridor to and from the Atlantic Ocean port of Lobito, which has the potential to transform how the region’s resources are shipped. The Lobito Corridor Management Institution will facilitate trade from Zambia and DRC over Angola’s 1,344km Benguela Railway, the three countries said at a ceremony in the Angolan port city last week. If the project materialises, it may serve as a key route to move metals used to make electric vehicles and wind turbines from inland mines to port, and cut transport times from weeks to days.
SOURCE: BUSINESS DAY LIVE
