LUANDA, Feb. 8 (Xinhua) -- German transportation company Siemens Mobility will build the "Luanda Surface Metro" in Angola under a Public-Private Partnership this year, according to a memorandum of understanding (MoU) signed here on Friday.
Michael Peter, chief executive officer of the company, signed the MoU with Angola's Transport Minister Ricardo de Abreu during the Angola-Germany Economic Forum held in the capital city of Luanda.
The minister said the Surface Metro line will cover a distance of 149 km, and the cost of the project is estimated at 3 billion U.S. dollars, with 30 percent of the cost to be assumed by Angola.
The German government has also made available a loan valued at 1.06 billion euros (about 1.16 billion dollars) to finance the construction of the Caculo Cabaca hydroelectric dam in the northern Cuanza Norte Province.
A total of four MoUs on cooperation were signed between the two countries during the forum.