CDB provides $400 million loan for Moçâmedes Railway Renovation Project (Linked to Record ID#67)

Project narrative

In April 2007, China Hyway Group Limited signed a $1.31 billion commercial contract with the Government of Angola for the Moçâmedes Railway Renovation Project. The commercial contract was financed with a $400 million loan from China Development Bank (CDB). The subsidiary loan for this project was approved under a $1.5 billion common terms agreement with CDB in November 2009, which is captured via Record ID#67. The project involved the renovation of a 1003.1 km railway with 56 stations between Namibe Port in the west and Menongue in the east. A subsidiary of China Hyway Group Limited — called China Hyway Group Limited Mocamedes Railway Project Company — was the contractor responsible for project implementation. Construction was completed in December 2011. The railway opened to traffic on August 25, 2012. The project then passed final inspection on September 12, 2015. After the completion of a two-year warranty period for operations and maintenance, the railway was handed over to the Angolan authorities on October 30, 2017. The total cost of the project ultimately exceeded $1.3 billion.