South Africa’s Grindrod Limited Group has approved a USD 500 million loan to be used during the first phase of the 580km railway line project that will connect Angola and Zambia and facilitate the transport of goods between the Northwest and Copperbelt regions of Zambia while also creating nearly 1,000 jobs.
The overall cost of the project is estimated to be worth nearly USD 1 billion and, according to the Manager of Grindrod Limited Zambia, Daniel Rea, will relieve pressure from the Zambian road network, which is currently supporting the transport of copper and other mineral goods.
“This is a permanent investment for Zambia. It will boost the country’s economy permanently,” he said, “The Zambia North West Rail will also relieve pressure from the roads because huge cargo will now be transported by rail.”
The first phase of the railway project will be completed with an estimated capital cost USD 489 mill and will stretch 290 km from Chingola to the Kansanshi, Lumwana and Kalumbila mines in northwestern Zambia.
