VdA and PRIME Advogados, in collaboration with Latham & Watkins as international lead finance counsel, has advised Lobito Atlantic Railway, S.A., the concessionaire for the Lobito Corridor (Lobito to Luau), a joint venture between Trafigura and Mota-Engil Africa, on the successful closing of a $753 million financing operation with the U.S. International Development Finance Corporation (DFC) and the Development Bank of South Africa (DBSA).

Following the execution of the core financing agreements on 17 December 2025, this closing marks a historic milestone in the development of strategic infrastructure in Africa and underscores the transformative impact of the Lobito Corridor on regional trade and economic growth. The investment is expected to have a direct and significant impact, increasing cargo handling capacity at the Lobito port terminal by several million metric tons and reducing meaningfully the transportation costs for critical minerals.

The VdA and PRIME Advogados mandate involved advising on all aspects of Angolan and Portuguese law related to the financing, including the renegotiation of the railway and mineral port concession agreements, the structuring of a sophisticated security package, and comprehensive counsel on all associated corporate and regulatory matters.

The VdA and PRIME Advogados team was led by Teresa Empis Falcão, with the invaluable support of Cristina Melo Miranda. The core team further comprised Susana Almeida Brandão, Catarina Coimbra, and Jéssica Araújo, all of whom played an important role in achieving this successful outcome.