On the 28th of June, the European Commission approved the creation of the company Lobito Atlantic Holdings S.A., a full-function joint venture between the Swiss company Trafigura and Mota-Engil, from Portugal. The Portuguese group is partially owned by the Chinese CCCC.
Lobito Atlantic Holdings S.A. will build, maintain and operate a railway line in Lobito, Angola. The Lobito corridor is a key route connecting mines in the Democratic Republic of the Congo to the Angolan port of Lobito and international markets.
In July 2022, the concession by the Government of Angola, for a period of 30 years extendable for another 20 years, was granted to a consortium that includes Trafigura, Mota-Engil and Vecturis SA.