Portuguese construction company Teixeira Duarte and cement producer Cimpor have been given the green light by the Namibian Government for the start of construction of a cement production plant in the country, Portugal economic daily Diario Economico reported on September 17, 2008.
The building of the new production unit will involve investments of between EUR150m (US$213.4m) and EUR180m. The project will be carried out through Namibian construction materials producer C+PA.
The construction works are expected to start in 2008 and the plant is to be operational at the end of 2010.
The target is for an output of some 600,000tpa of cement. Close to 50 per cent of the production will be exported, mainly to the neighbouring countries, South Africa and Angola.
The plant will be located in the central town of Karibib, which has good railway and port connections. The production unit will create 200 jobs.
Teixeira Duarte and Cimpor expect to achieve a return on investment (ROI) within nine to 10 years. The two companies admit the possibility to share the management of the plant with a Namibian partner holding five per cent of the facility.