German company Schwenk (Pty) Limited has joined forces with a local entity known as the Namibia Investor Group to set up a new manufacturing firm, Ohorongo Cement Company.
Ohorongo intends to invest N$1.2bn by setting up a cement factory near Tsumeb and an import/ export terminal with a grinding plant at Walvis Bay.
The company was recently awarded an Exclusive Prospecting Licence (EPL) by the Ministry of Mines and Energy, and evaluation is currently in progress before construction will start.
Ohorongo Cement Company Chairman Gerhard Hirth said limestone reserves at the site appear to be ’sufficient for approximately 100 years’.
Construction of the cement factory is scheduled to take some 27 months and the factory is foreseen to be fully operational by 2010.
The import/ export terminal envisaged for Walvis Bay should be functioning at optimal level by mid-2009.
Upon completion, the factory would produce 600 000 tonnes of cement per year.
The venture is expected to create permanent employment for between 250 and 300 people, although the construction phase is expected to absorb 1 500 workers.
At the launch of Ohorongo Cement Company in Windhoek on Wednesday, Hirth said Namibia was an ideal location due to a number of reasons including high-class quality of reserves expected, the growing cement market in Namibia and southern Africa and easy access to export markets.
Hirth stressed the company’s focus on the preservation of the environment.
He said Ohorongo would be known for using some of the best environmental practices.
Ohorongo Cement Company has appointed Uwe Muller and Jan-Karsten Meier as General Manager and Business Development manager respectively.