Portuguese construction major Mota-Engil outbid three Chinese state-owned companies, CITIC, Sinotrans, and CR20, to win a 30-year concession to operate the strategically important Lobito Corridor that connects the copper/cobalt belt in the southern DRC and northern Zambia with the port of Lobito in Angola.
But it wasn’t all bad news for the Chinese since another state-owned company, China Communications Construction Company (CCCC), now owns a third of Mota-Engil.
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