Angola Authorizes $1B Loan for Saurimo-Luena Rail Extension to Diamond Hub

On 5 August, Angola’s President Koao Lourenco officially authorized the loan for the Luena – Saurimo segment of the Benguela Ralway. The financing was arranged by Hong Kong and Shanghai Banking Corporation (HSBC) for an amount of over EUR one billion.

Poland’s KUKE is putting up EUR 290 million, UKEF is adding EUR 250 million, and the Netherlands’ ATRADIUS is coming up with EUR 125 million. Another separate HSBC-led consortium is putting down EUR 142 million as the initial instalment.

It is to be recalled that the official groundbreaking ceremony for the project took place in January 2026. The Project is expected to take 5 years to complete and will be operational by early 2031.

Brazil’s Odebrecht Engenharia e Construcao (OEC) and its portuguese Portugal’s Bento Pedroso Construcoes (BPC) are responsible for designing and building the railway. The Luena to Saurimo line runs a distance of 260 kilometers.

The railway line will link the diamond mining hub of Saurimo in the Lunda Sul Province to the Benguela Railway, which is itself part of the longer #LobitoCorridor. Thus, Saurimo will have a rail link to the seaport of Lobito.