USD 956 million needed for the modernization of the Matadi-Kinshasa railway
The Matadi-Kinshasa railway modernization project necessitates a budget of $956 million, as revealed by Adel Kayinda, Minister of State and Minister of Portfolio, during the recent Council of Ministers meeting held on February 16, 2024.
Kayinda outlined the essential steps required for the successful execution of this transformative railway project in the Democratic Republic of Congo (DRC), emphasizing positive assessments from the Analysis Commission regarding technical, financial, and legal aspects.
Four critical conditions were highlighted for the project’s success:
1.Establishment of a project company to oversee the CFMK.
2.Formation of a joint venture between ONATRA SA (40%) and ARISE IIP (60%) to operate the company.
3.Development of a container storage site and dock in Kinshasa to facilitate container transfers to and from the Special Economic Zone.
4.Execution of project investments totaling $956 million in three phases.
Furthermore, Kayinda outlined the Partnership Agreement’s key components for the rehabilitation, modernization, and operation of the Matadi-Kinshasa railway line.
This agreement, comprising 11 articles outlining partnership orientations, will be supplemented by annexes containing contractual provisions and delineating the rights and obligations of the involved parties.
The signatories to this Partnership Agreement will be the Democratic Republic of Congo (the State) as the Granting Authority, and Congo Logistic and Transport (CLT SA) as the concessionaire.
