Friday, October 23, 2015

NAMIBIA: Chinese company launches JV with Namibia cement company

The Chinese company, Asian and African Business Management, has teamedup with a Namibian company, Whale Rock Cement, to set up a $350 million cement plant.

A memorandum of understanding was signed in Windhoek Thursday between the twocompanies to kick start the project that will see the creation of 400 jobs.

The Chinese Ambassador to Namibia Xin Shunkang and the chairperson of the Asian andAfrican Business Management Zhang Jimin attended the signing ceremony.

A few years ago, Whale Rock Cement (Pty) Ltd came onto the Namibian market with itscement brand Cheetah Cement.

This has triggered a fierce competition with the existing cement suppliers leading to a pricewar that drove Whale Rock off the market.

Asian and African Business Management has more than 30 years experience in cementproduction and employs 6,000 workers.

The plant, about 245 kilometers from the capital Windhoek will be the second cement plant inNamibia after Ohorongo which produces more than 500,000 tons per year.

Whale Rock Cement public relations officer Manfred Uxamb said a comprehensive feasibilitystudy has been done and that a limestone survey has also been carried out.

"Together with our partners, we have performed comprehensive investigation of the land plot,limestone, clay, wasted iron ore, gypsum which is necessary for this cement plant," Uxambsaid, adding that they found that all these resources meet requirements.

"The survey also included a market research that proved that the project is feasible. Thefeasibility study was presented to the Government of the Republic of Namibia and approved,"Uxamb said.

According to Uxamb, the area chosen for setting up the plant has proved that there is enoughlimestone deposits to last more than 40 years and pump more than $30 billion into the economy.

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