Cheetah cement will start with construction of its Otjiwarongo plant on the Cleveland Farm 20 months from now. Creating 400 jobs and claims economic benefits of U$30 million. Total investment for the project is set at U$350 million.
A local company,Whale Rock Cement (Pty) Ltd, will construct the cement factory and has placed an investment in the project amounting to approximately N$21 million.
During the limestone survey, 15 holes of 45 degrees were drilled and the content was sent to Brazil for analysis. According to Cheetah Cement the limestone deposits can produce cement for more than 40 years.
“Currently we have signed a Memorandum of Understanding with Asia and Africa Business Management (Xi’an) Co, LTD. This company and its associates have 30 years experience in cement production with 6000 employees under management.”
Spokesperson for Cheetah Cement, Mr Manfred /Uxamb said at the event.
‘’The survey also included a market research that proved that the project is feasible. The feasibility study was presented to the Government of the Republic of Namibia and approved.”
Several dignitaries including the Minister of Land Reform, Hon. Uutoni Nuyoma, Minister of Industrialization, Trade and SME Development, Hon. Immanuel Ngatjizeko, the Minister of Fisheries and Marine Resources, Hon. Bernard Esau and the Mayor of Otjiwarongo Miss Hilda Jesaja were present at the announcement which was made this week Wednesday at the Safari Hotel and Casino.
Jesaja welcomed the investors as she strives to make Otjiwarongo the preferred investment destination in the Otjozondjupa Region. She urged Cheetah Cement to source employment from the town of Otjiwarongo.
The Chinese Ambassador to Namibia, H. E. Mr Xin Shunkang who was also in attendance said that there is no reason for Namibia to not approach Chinese investors to speed up the process of industrialization.
Whale Rock Cement, a local company used its own funds, its own operations and used Corsan Engineering to design the scope and analyse the quality of the raw materials and in the negotiating and acquiring of equipment on its behalf with the Chinese manufacturers.
However, there are still some issues such as the supply of electricity and water which the company needs assistance from government service providers.
“Currently there is one cement plant with the production capacity of more than 500,000 ton per annum. After the establishment of our cement plant, the production capacity will be larger than the local market demand however, it is not discouraging us to continue with the investment. We are planning to penetrate all possible markets irrespective of location.”