Overview

CDB provides $50.1 million loan for Bungo-Baia Double Railway Track Construction Project (Linked to Record ID#65524, #67524)

Commitments (Constant USD, 2023)$54,655,617

Commitment Year•2016Country of Activity•AngolaDirect Recipient Country of Incorporation•AngolaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 1, 2016

Start (actual): Jul 10, 2017

End (planned): Dec 31, 2019

Geospatial footprint

Map overview

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The purpose of this project is to construct a second railway line between Baia station and Bungo station (measuring roughly 43 km in length) that runs parallel to the existing Luanda Railway Line known as Caminho-de-Ferro de Luanda (CFL). More detailed locational information can be found at https://www.openstreetmap.org/node/4107364764 and https://www.openstreetmap.org/way/50563173 and https://www.openstreetmap.org/relation/2148314#map=8/-9.169/14.797 and https://www.openstreetmap.org/way/226831624.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

Government Agencies

Government of Angola

Implementing agencies

Government Agencies

Angola Ministry of Transport

State-owned companies

China Machinery Engineering Corporation (CMEC)

Loan description

CDB provides $50.1 million loan for Bungo-Baia Double Railway Track Construction Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In December 2016, China Development Bank (CDB) signed a $50,109,595.77 loan agreement with the Government of Angola for the Bungo-Baia Double Railway Track Construction Project. The borrowing terms of the loan are unknown. The borrower was expected to use the proceeds of the loan to partially finance a $58,952,465.61 commercial contract between Angola's Ministry of Transport (MINTRANS) and China Machinery Engineering Corporation (CMEC), which was signed November 4, 2013. The purpose of the project is to construct a second railway line between Baia station and Bungo station that runs parallel to the existing Luanda Railway Line known as Caminho-de-Ferro de Luanda (CFL). Upon completion, it is envisaged that railway will increase the number of passengers transported each day from 15,000 to 30,000. Construction began on July 10, 2017, and the project achieved a 70% completion rate by January 2018. The project was originally scheduled for completion in 2019.

Staff comments

1. The Portuguese project title is Duplicação do Caminho de Ferro de Luanda no Troço Bungo-Baia. 2. This project is closely related to, but is distinct from, the Bank of China-financed 17.4 km New International Airport of Luanda Rail Link Construction Project (captured in Record ID#65524). 3. This project is also related to an ICBC-financed acquisition of 10 Diesel Multiple Units (DMUs) for the Luanda Railway Line (captured via Record ID#67524).