Mota-Engil said to win deal for US-backed Congo copper railway

Mota-Engil is set to sign a 30-year concession with the Democratic Republic of Congo to operate a key copper and cobalt railway, potentially backed with up to $1-billion of US financing. The deal with Portugal’s biggest construction company covers the rehabilitation and management of the Congolese portion of the Lobito Corridor, an infrastructure project that aims to increase exports of critical minerals to Western markets, according to people familiar with the matter. Mota-Engil is already part of the consortium operating a connecting rail line in neighbouring Angola that runs to a port on the Atlantic Ocean coast.

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