Africa Global Logistics (AGL) has signed a concession contract to operate the multipurpose container terminal at the Port of Lobito in Benguela Province, Angola.

AGL is set to oversee container operations and manage the multipurpose terminal, encompassing a quay stretching 1,200 m and a storage area capable of accommodating 12,000 TEUs. As part of the concession agreement, AGL is committing close to US$109.2 million to transform the port into a contemporary, efficient, and competitive port facility, with collaboration and support from the Swiss shipping line MSC Group, of which AGL is an integral part. The revitalization of the Port of Lobito is poised to foster the growth of agricultural initiatives, construction ventures, and tertiary service enterprises. Moreover, it will streamline the export of minerals such as copper and cobalt to global markets through its connectivity to the 1,300 km Benguela railway network and the forthcoming railway line to Zambia.

The African Development Bank (AfDB) has contributed approximately US$500 million to the overall US$1.6 billion project. This comprehensive initiative includes the construction of around 550 km of railway in Zambia, extending from Jimbe on the Angola border to Chingola in the Zambian copper belt, as well as 260 km of primary feeder roads within the Lobito Corridor. The new concession will become effective in Q1 of 2024.