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Local News Transport and Logistics

Angolan Ambassador Invites Investment in Lobito Corridor at Cape Town Forum

The Angolan ambassador to South Africa, Rui Orlando, last week invited international investors to invest in infrastructure projects in the Lobito Corridor, Benguela, to drive economic growth in Angola and the region. This call to action was made during the 8th International Infrastructure Forum in Africa, organized by Infrastructure Africa in partnership with the African Infrastructure Association and the African Union Development Agency (AUDA-NEPAD). Speaking at one of the forum’s panels at the Cape Town

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Local News Oil

Etu Energias Acquires Major Oil Stakes in Angola for $443 Million

PAC Capital Limited announced that Etu Energias has purchased Galp Energia’s interests in three offshore Angolan blocks for $443 million. The acquisition includes Galp’s 5% non-operating stake in Block 32, a 9% non-operating stake in Block 14, and a 4.5% non-operating stake in Block 14K. Edson R. Dos Santos, Chairman and CEO of Etu Energias, highlighted the significance of the deal: “The successful collaboration between all parties was crucial for this transaction, marking Etu Energias’

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Local Economy News Oil

Angola’s Oil Production Increases in June

In June, Angola’s oil production totaled 34.6 million barrels, averaging 1.155 million barrels per day (MBPD). This represents a 0.87% increase from May’s output of 1.108 MBPD. According to PetroAngola’s Monthly Petroleum Bulletin, Block 17 led production with an average of 393,655 barrels per day (KBPD), followed by Block 32 at 154,960 KBPD, and Block 0 at 147,205 KBPD. Gas production also saw a rise, reaching 87,230 million cubic feet (MMSCF) in June, or a

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Local News Oil Renewable Energy

Etu Energias Aims to Lead in Renewable Energy with Solar Initiatives

Etu Energias aspires to become the leading renewable energy provider in the country, a goal announced last Friday by the company’s Board of Directors President, Edson dos Santos, during the “Coffee with Journalists” event in Vila do Soyo. Edson dos Santos outlined the company’s strategy to prioritize solar panel installations to replace fossil fuels. He emphasized that this shift aims to mitigate the environmental and health impacts of fossil fuels while offering a more cost-effective

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Local Economy News Transport and Logistics

Transforming Bié: The Economic Potential of the Lobito Corridor

The business sector in Bié province is optimistic about investments along the Lobito Corridor, particularly in the Benguela Railway (CFB). These developments are expected to enhance agricultural production and facilitate the transport of goods to Zambia and the Democratic Republic of Congo (DRC). Farmer Manuel Maia, who operates several agricultural projects in Cunhinga, believes the Lobito Corridor will significantly boost his investments and strengthen local agriculture. He plans to leverage this route to expand his

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Local Gold Mining Projects News

Angola’s Mining Sector Poised for Growth in 2024

Angola is set to significantly boost its revenue streams with the commencement of production at the Lombe Mining and Mapele gold exploration projects in Cabinda and Huíla provinces this semester. These projects recently received prospecting approvals from the National Agency for Mineral Resources (ANRM). According to the ANRM’s report, a subsidiary of the Ministry of Mineral Resources, Oil and Gas, four new exploration projects for ferrous and non-ferrous metals are expected to enter production by

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Local News Transport and Logistics

Lobito Port Welcomes First Major Shipment to Support DRC Mining Operations

The Port of Lobito Mining Terminal in Benguela welcomed its first large cargo ship on Friday, loaded with 40,500 tons of sulfur to support mining activities in the Katanga area of the Democratic Republic of Congo. According to a press release, the bulk cargo transport ship MV Lindsaylou’s arrival marks the start of port operations by Lobito Atlantic Railway (LAR), the concession company for the Lobito Corridor. The ship was loaded in Qatar and embarked

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Economy Local News

UAE Expands Strategic Economic Partnership with Angola

The International Institute for Strategic Studies recently confirmed that the United Arab Emirates (UAE) is intensifying its economic relations with Angola through significant investments in key sectors such as energy, technology, and maritime logistics. According to the Institute, the UAE is exploring opportunities in food security through partnerships between the two countries. The UAE views Angola as a growing consumer market and notes that several leading Emirati companies are already investing in critical sectors of

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Local Economy News Transport and Logistics

G7 Investment Set to Transform Angola’s Lobito Corridor

Luciano Chilembe, the financial administrator of the Catumbela Industrial Development Pole (PDIC), expressed satisfaction with the recent $320 million financing provided by the Group of Seven (G7) richest countries for projects in the Lobito Corridor. This funding is expected to significantly enhance the region’s infrastructure and economic potential. Chilembe emphasized the critical work ahead in the transport sector and the need for a focused approach to consolidate reforms in agro-industry and related services. He highlighted

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Local Infrastructure Transport and Logistics

Angola-Zambia Road Project to Boost Trade and Economy in Eastern Angola

Economists and business leaders in Lunda-Norte believe that the construction of a road connecting Angola and Zambia, part of the Lobito Corridor initiative, will significantly enhance the flow of goods and services between Angola’s eastern provinces and the country’s coast. The project involves constructing an approximately 800-kilometer road from Lobito (Benguela) to Luau (Moxico) on the Angolan side. companies, including a consortium like SIbitech and Queiroz Galvão, as well as AFAVIAS, are involved in the

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