Energy companies Mitrelli (Israel) and Hydro-Link (USA) signed a landmark $1.5 billion agreement on Monday to construct a power transmission line capable of transporting 1,200 megawatts (MW) of electricity from Angola to the Democratic Republic of Congo (DRC).
The deal was signed during the 17th U.S.-Africa Business Summit and includes plans to establish Special Economic Zones (SEZs) along the route, integrated with the Lobito Railway Corridor.
According to the companies, the initiative aims to promote industrialization and boost local economies along the corridor.
Mitrelli emphasized the project’s strategic significance, stating it would not only strengthen energy ties between Angola and the DRC but also support job creation, the development of industrial platforms, and regional economic growth through reliable energy access.
The agreement is expected to be formally ratified by the Angolan government on Tuesday, according to Bloomberg.
Mitrelli Group Chairman Haim Taib called the partnership “a strategic commitment to boost the regional economy” and a “long-term investment in Africa’s sustainable development,” stressing that access to energy “creates real opportunities for communities and promotes local development.”
Hydro-Link CEO Paul Hinks highlighted the DRC’s energy challenges, noting that the country’s mining industry is hampered by unreliable electricity supply.
The new partnership, he said, is designed to deliver clean, affordable, and consistent energy to address that gap.
Mitrelli has operated in Angola for several decades, with a portfolio spanning infrastructure, health, energy, education, and large-scale project financing.
