Project Key Timelines and Milestones

A comprehensive timeline of the Western Corridor development from inception to present day

16 February
2024
Unsolicited proposal submitted

The Promoters submitted the unsolicited proposal for the Project on 16 February 2024.

19 June
2024
Preferred bidder status awarded

On 19 June 2024, the Promoters were awarded the preferred bidder status by the Zambia Road Development Agency.

10 July
2024
SPV Incorporated

The Promoters incorporated the Special Purpose Vehicle, Western Corridor. The Promoters engaged in a period of contract negotiations. The Promoters engaged various advisors, legal, financing, engineering, and ESG advisors to assist in the negotiations.

1 December
2024
Concession Agreement Signed

The Concession Agreement was signed with the Ministry of Finance and National Planning in Kasempa.

Current Status
Design & Preparation

The Project is advancing through road design and other preparatory works.

End of 2028
Upcoming
Project Completion

Target milestone for project completion.

Major Milestones, Key Promoters, Investment, and Kilometres

8

Major Milestones

Achieved from 2018 to present

2

Key Promoters

BeefCo Holdings & First Quantum Minerals

$300M

Investment

Invested in maintenance

371

Kilometres

upgrades

Road to be upgraded to bituminous

Upcoming Milestones

Construction Commencement

2025

Begin main construction works on the 371km corridor

Project Completion

2028

Delivery of fully upgraded bituminous highway