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Namport assets reach N$7.6 billion mark following recent container terminal inauguration

Namport assets reach N$7.6 billion mark following recent container terminal inauguration

The Director of the Namport Board, Nangula Hamunyela said that the company’s assets have grown to N$7.6 billion following the completion of the new container terminal in Walvis bay.

The N$4 billion new container terminal was inaugurated last week on Friday by the President, HE Hage Geingob and Hamunyela said the new container terminal also launches the company’s goal to become a logistics hub for the southern African region.

The new container terminal located in the port town of Walvis Bay was constructed on 40 hectares of land reclaimed from the sea by China Harbor Engineering Company Ltd (CHEC) under just five years.

The container handling capacity of the new terminal was increased from the current 350,000 containers to 750,000 per annum.

Speaking at the event Geingob said that the milestone is yet another indication that country continues to make great strides toward achieving developmental objectives as outlined in the country’s Vision 2030 strategic plan.

“Today is a culmination of a long cherished vision of transforming Walvis Bay, from a predominantly fishing harbor inherited at reintegration into Namibia, into an express-hub to international markets,” he added.

Speaking on the same occasion, Vice President of CHEC, Li Yi, thanked Namibia for the opportunity to work on the project as contractor and Li believes that the new terminal will contribute to the country’s port becoming a great asset and a leading contributor to development.

To highlight the win-win cooperation on the project, Li said over the five years of construction they employed more than 2,000 Namibians and provided on-site training to over 800 local employees who now have attained new skills in the job market.

During the event, CHEC also donated N$1 million to help assist with the drought siyuation in the country.

The African Development Bank’s Deputy Director General, Josephine Ngure, in statement delivered on her behalf said the new terminal will definitely change the positioning of Namibia and will open up more opportunities to landlocked countries like Zimbabwe, Botswana and Zambia.

Meanwhile the port will shut down for the migration from the old to the new terminal between 17 to 24 August, Namport’s new terminal project manager, Elzevir Gelderbloem said and the old terminal will be used for multi-purposes for non-containerized cargo.


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Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.