Zambia says keeping $5b to build Pipeline to Angola

Zambia says keeping $5b to build Pipeline to Angola

WE HAVE US$5 BILLION TO BUILD ZAMBIA ANGOLA PIPELINE, ZAMBIA ENVOY TO ANGOLA SAYS

Really? But Zambia is struggling to borrow US$1.3 billion from the IMF!
Zambian Ambassador to Angola Lawrence Chalungumana says at least US$5 billion is available for the construction of an oil pipeline to connect Angola and Zambia, aiming to make operational the Lobito corridor.

Ambassador Chalungumana said this last Thursday in Luanda, at the celebration ceremony of the 55th anniversary of Zambia’s independence. He said that that the pipeline shall start from the refinery of Lobito (Angola’s western end) to Zambia.
According to Mr Chalungumana, this project created by the Angolan and Zambian governments will have five years duration and will be handled by the Zambian company Baseli Balisel Resources (BBLR) with the Angolan company Sonangol.
“The conclusion of these works will facilitate the construction of roads and railways to connect neighbouring countries,” he said.
Mr. Chalungumana also reiterated that besides the project, Unitel is launching in Zambia mobile telecommunications project of over 350 million dollars.

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