Latest news with #transportcorridor
RNZ News
11 hours ago
- Politics
- RNZ News
Wellington's Green Party council candidates promote transport proposals
Photo: RNZ / Dom Thomas Green Party candidates for Wellington City and Regional councils say their proposal to give buses priority on key routes would cut some commuter's trips by 10-15 minutes. The Greens' candidates are proposing creating a new bus corridor down the harbour quays, which they believe will speed up journeys and ease bus congestion on the Golden Mile. They also support the continuation of the current Golden Mile proposal which would remove car traffic from the route. Additionally the Greens' want to prioritise buses on Route 2, which goes between Miramar and the City, with traffic light priority and longer higher-capacity buses. Green Party Regional Council candidate Henry Peach said their plan meant less time stuck in traffic, and buses turning up more often and on time. "Giving buses priority on key routes will make the bus attractive for more people and reduce car traffic, noise and pollution in the city," Peach said. "All bus routes that come into the city and and all transport corridors that come into the city will benefit from this because all buses that move through the city will be speed up, they become more reliable and more attractive for people and that ultimately means that more people are going to use public transport," he said. Peach said more people using public transport would mean the roads were less congested and there would be less vehicles competing for that finite space on the road. Green candidate for the Eastern Ward Jonny Osborne, said prioritising buses such as Route 2 was the best way to improve access and reduce congestion from the eastern suburbs. "More than half of us in the east already take the bus. Cutting the trip by up to 15 minutes will make it the logical choice for more of us, meaning less congestion for everyone," he said. Peach said a priority bus route on the Harbour Quays would cost around $10m while targeted upgrades to Route 2 would cost around $6m. "So in the scheme of transport projects it's really cheap and it's something that we could kick off in the next few years," he said. "Which would mean Wellingtonians seeing really significant improvements to public transport within a few years."
Zawya
09-06-2025
- Business
- Zawya
Nigeria: Africa Finance Corp to sign $320mln deal with Italy to bolster Lobito funding
Africa Finance Corporation, a Lagos-based continental financier, will sign a deal with Italy for $320m financing partly for a new transport corridor linking critical mineral fields with an Angolan port, its chief executive said on Thursday, 5 June 2025. AFC, which is owned by African central banks and development lenders, is the financing partner for the United States-backed rail and road corridor linking the Angolan port of Lobito on the Atlantic coastline with Zambia and the Democratic Republic of the Congo, where the minerals are mined. "The government of Italy has continued to express their support for the project. There will be a signing event of the facility that they are going to advance for the project," Samaila Zubairu noted in an interview after the launch of the financier's annual Africa infrastructure report. There will also be a meeting in Rome focusing on the Lobito corridor project as it is known, in the coming weeks, he added. The Lobito rail corridor is a project to help transport critical minerals from the central African copperbelt to the West and is considered key in countering Chinese control over copper and cobalt supplies in the region. Some of the cash from the Italian government will go towards AFC's regular lending operations, he said, without giving a precise split. AFC, which usually aims to raise $2-3bn every year, has raised more than $1bn this year so far, and it is looking to raise roughly $1bn more via a syndication facility soon, Zubairu said. "We have a huge syndication that we are launching shortly," he said, without providing more information.
Reuters
05-06-2025
- Business
- Reuters
Africa Finance Corp to sign $320 million deal with Italy to bolster Lobito funding
NAIROBI, June 5 (Reuters) - Africa Finance Corporation, a Lagos-based continental financier, will sign a deal with Italy for $320 million financing partly for a new transport corridor linking critical mineral fields with an Angolan port, its chief executive said on Thursday. AFC, which is owned by African central banks and development lenders, is the financing partner for the United States-backed rail and road corridor linking the Angolan port of Lobito on the Atlantic coastline with Zambia and the Democratic Republic of the Congo, where the minerals are mined. "The government of Italy has continued to express their support for the project. There will be a signing event of the facility that they are going to advance for the project," Samaila Zubairu told Reuters in an interview after the launch of the financier's annual Africa infrastructure report. There will also be a meeting in Rome focusing on the Lobito corridor project as it is known, in the coming weeks, he added. The Lobito rail corridor is a project to help transport critical minerals from the central African copperbelt to the West and is considered key in countering Chinese control over copper and cobalt supplies in the region. Some of the cash from the Italian government will go towards AFC's regular lending operations, he said, without giving a precise split. AFC, which usually aims to raise $2-3 billion every year, has raised more than $1 billion this year so far, and it is looking to raise roughly $1 billion more via a syndication facility soon, Zubairu said. "We have a huge syndication that we are launching shortly," he said, without providing more information.
