Latham Advises on Project Financing of the Lobito Atlantic Railway Project

Latham & Watkins has advised Lobito Atlantic Railway, S.A., a joint venture between Trafigura and Mota-Engil on the project financing for the Lobito Atlantic Railway Project in Angola. The financing includes senior debt funding of up to US$200 million provided by the Development Bank of Southern Africa (DBSA), co-funded alongside US$553 million from the U.S. International Development Finance Corporation (DFC).

The facilities will support the rehabilitation and operation of the brownfield mineral port in Lobito and an approximately 1,300-kilometer brownfield rail line in Angola, which connects the Mineral Terminal at the Port of Lobito to Luau on Angola’s border with the Democratic Republic of Congo (DRC). The project is expected to expand critical mineral supply chains, increase rail transport capacity, and reduce freight transit times and costs.

The Latham team was led by London project finance partner Tom Bartlett, with associates Sam Burleton, Tom Glynne-Jones, Ali Stopford, Nick Scott, and Isobel Moffat. Advice on project development matters was provided by London counsel Evelyne Girio, with associate Daniel Chen; and on US law matters by New York partner Guido Liniado, with associate Giancarlo Reanda. Singapore counsel Howe Min Wee advised on Singaporean law matters.