The World Bank has issued $62.6 million in guarantees to Portuguese construction group Mota-Engil to underpin its investments in the Lobito Corridor, the railway infrastructure linking Angola and the Democratic Republic of Congo (DRC), the institution announced on Thursday, 10 July.
"The Multilateral Investment Guarantee Agency (MIGA) has issued guarantees worth $62.6 million to Portuguese construction company Mota-Engil to cover its equity investments in Lobito Atlantic Railway, which operates the Lobito Corridor under a 30-year concession with the Government of Angola," the statement read.
Mota-Engil is responsible for the long-term operation, management, maintenance, and modernisation of approximately 1,300 kilometres of railway infrastructure crossing Angola, from the Port of Lobito on the Atlantic coast to Luau on the border with the DRC.
The concession also includes the operation of a minerals terminal at the Port of Lobito.
According to MIGA, the World Bank Group entity responsible for providing political risk guarantees to investors, the Lobito Corridor project is expected to directly employ "more than 1,600 workers at peak operations, of whom 97% will be Angolan nationals." Currently, nearly one thousand workers are employed, including 529 transferred from state-owned railway and port operators, contributing to local skills development along the corridor.
The Lobito Corridor is one of the most competitive routes connecting the mineral-rich Copperbelt region of the DRC — abundant in copper and cobalt — to international markets, offering significantly shorter transit times than existing road alternatives, the statement noted.
Copper and cobalt, the institution added, are essential raw materials for clean energy technologies, including batteries for electric vehicles and energy storage systems.
"The partnership with MIGA strengthens the conditions necessary to make an investment of this scale viable and reflects international confidence in the project and in the execution capacity of its partners," said Mota-Engil Group Vice-President and CEO Manuel Mota, as quoted in the statement.
Mota-Engil's participation in the Lobito Corridor "represents the continuation of an 80-year commitment to Angola and the conviction that strategic projects must be built on solid partnerships, a long-term vision, and the creation of sustainable value for the country and the region at large," the executive added.
The MIGA guarantees will cover Mota-Engil's equity investments in Lobito Atlantic Railway against risks of expropriation, conflict and civil disturbance, as well as breach of contract.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/09/10/mundo/angola/angola-banco-mundial-garante-mais-de-62-m-a-mota-engil-para-investimentos-no-corredor-do-lobito/
