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

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.

Additional details

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 Project 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 Project ID#67524).

Number of official sources

9

Number of total sources

15