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Namibian and Chinese investors have announced a plan to set up a cement plant at the cost of US$350mn near Otjiwarongo, Namibia
Whale Rock Cement (Whale Rock) is the local partner on the project along with Chinese Asia and Africa Business Management (Xian) Company.
Whale Rock has said that a comprehensive feasibility study on the viability of the project has been completed. It said that the limestone deposit where the plant will be situated can produce cement for more than 40 years. Construction of the plant will take 18-20 months.
“After the establishment of our cement plant, the production capacity will be larger than the Namibian cement market demand. However, it is not discouraging us to continue with the huge investment we envisage. We are planning to penetrate all possible markets irrespective of its location,” said Whale Rock in a statement.
The company is investing about US$1.52mn of its own money in the project construction, it said. “Whale Rock Cement company has made own funds available and has employed the expertise of a credible company, Corsan Engineering, to design the scope and analyse the quality of the raw materials to negotiate the acquiring of the equipment suitable for the raw material with the Chinese manufacturers.”
Whale Rock was created in 2004 and it used to import the Cheetah brand of cement from Brazil before disappearing from the market. The company says it has been awarded a mining licence now and will produce cement locally.