The Portuguese construction group Mota-Engil announced on Tuesday (23) that it has secured financing of 214 million US dollars from the International Finance Corporation (IFC), the World Bank’s private-sector arm, to support its operations in Africa.
“The financing will support the expansion and execution of transformative mining projects in South Africa, Senegal and Guinea, as well as major railway projects, including the Kano–Maradi railway corridor in Nigeria and the Lobito railway corridor in Angola, while also strengthening Mota-Engil’s broader operations across the continent,” the statement said, as cited by Lusa.
In the same statement, Mota-Engil added that “the new financing will make it possible to acquire state-of-the-art construction and mining equipment, increasing operational efficiency and embedding sustainability — a core strategic pillar — at all stages of project execution.”
The Chairman of the Board and Chief Executive Officer of Mota-Engil, Carlos Mota Santos, said that “having a long-term partner of the calibre of the IFC brings not only financial strength, but above all strategic additionality, from its development expertise to its environmental and social standards, as well as its ability to catalyse further investment into Mota-Engil’s operations and initiatives.”
In turn, the IFC’s Managing Director stated that the partnership with the Portuguese company, which has been present in Africa for more than 80 years, “reinforces its ability to mobilise international capital for complex, large-scale projects that deliver lasting economic value and positive social impact”, adding that the partnership “will help unlock Africa’s potential by financing critical equipment for railway and mining operations, boosting trade, creating jobs and strengthening regional integration.”
Among the various projects, Makhtar Diop highlighted the Lobito Corridor, an initiative that will link the Port of Lobito to mineral-rich provinces of the Democratic Republic of the Congo and Zambia through the restoration and expansion of an existing railway line.
“Restoring the railway corridor from the Democratic Republic of the Congo to the Port of Lobito in Angola is a transformative opportunity; a revitalised corridor can reduce transport costs, catalyse diversified economic activity and connect the region more competitively to global markets,” the official concluded.
