Namibian port wins approval on US$338 million loan for new container terminal

port of walvis bay optThe new terminal is expected to triple Port of Walvis Bay's container handling capacity. (Image source: Namport)The African Development Bank Group (AfDB) has approved a US$338mn sovereign loan for the Namibian Ports Authority (Namport) to construct a new container terminal at the Port of Walvis Bay

The new terminal is expected to triple Port of Walvis Bay’s container handling capacity, from 350,000 TEUs to 1,050,000 TEUs per annum, according to Namport. Construction of this terminal is expected to commence by end of this year. The authority expects cargo volumes to increase by 70 per cent in 2020 at this port.

“The grant would also fund a National Logistics Master Plan study, building of technical support and capacity at the Walvis Bay Corridor and training of freight forwarders, with particular emphasis on female staff,” AfDB said.

The Walvis Bay Corridor network includes the Trans-Kalahari Corridor, the Trans-Caprivi Corridor, the Trans-Cunene Corridor, and the Trans-Oranje Corridor.

Earlier this year, AfDB approved the construction of the new terminal at the port.

The AfDB has also given a US$2.3mn grant to the government of Namibia for logistics and capacity building projects that would complement the port project.

Namport chief executive officer Bisey Uirab signed the loan agreement with AfDB’s Southern Africa Resource Center (SARC) regional director Ebrima Faal. Namibia finance minister Sara Kuugongwelwa-Amadhila signed the loan grant agreements on behalf of the government in Windhoek.

Kuugongwelwa-Amadhila said the Namport container terminal project was one of the key goals of Namibia’s National Development, which aims to position the country as a regional logistics hub by 2017.

Faal said, “The project will enhance regional integration. Namibia will be able to fully exploit its unique geographical position to facilitate trade to and from the region. AfDB’s support to Namport and the government of Namibia will help improve private sector development, employment and increase participation of women in the logistics sector.”

According to AfDB director of transport and ICT, Amadou Oumarou, the project would help seven major economies in the Southern African Development Community.

 

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