Chinese railroad stock arrives in Angola in February 2008

24 October 2007

Luanda, Angola, 24 Oct – Chinese rolling stock to equip Angola’s railroad is due to arrive in the West African country in February 2008, said the China International Fund (CIF) in a statement cited by Angolan newspaper, Jornal de Angola.

According to the statement, the stock is made up of eight engines, 40 passenger carriages and 500 cargo wagons.

CIF is involved in the reconstruction of the Luanda railroad, which is 478 kilometers long and has 16 stations, the Benguela railroad, which is 1,343.3 kilometers long and has 70 stations, and the Moçâmedes railroad, with 859 kilometers and 45 stations.

Figures published by the Angolan Finance Ministry showed that the CIF funding will be applied in several projects in the Angolan capital, including the new international airport, infrastructures and studies and projects for the new city of Luanda, as well as the Luanda-Lobito, Malanje-Saurimo, Saurimo-Dondo and Saurimo-Luena roads.

According to the World Bank, the fund has a maximum value of US$9.8 billion, which had not so far been confirmed by the Angolan authorities, which said only that US$2.9 billion had been applied.

Last week, the Finance Ministry said that due to the difficulty in mobilizing the CIF funding, Angola would issue bonds worth US$3.5 billion.

The China International Fund, which is based in Hong Kong, is an arm of Beiya International Development, linked to China’s imports of oil from Angola. (macauhub)