Steel manufacturing factory set for Otavi
05 Jun 2018 17:50pm
By Mulisa Simiyasa
OTAVI, 05 JUN (NAMPA) The first ever steel manufacturing factory in the country has been earmarked to start operating at Otavi in the Otjozondjupa Region before December this year.
Otavi Deputy Mayor, George Garab in an interview with Nampa on Monday said over N.dollars 2.7 billion has been secured so far from some commercial banks for the steel manufacturing company to be set up at Otavi.
The factory is expected to manufacture rebar wires, mostly used in constructing bridges and skyscrapers to support the concrete walls of the structures.
Angle and channel irons will also be manufactured by the company, including round and square bars, and round and square metal tubes.
A 77-hectare (ha) piece of land has been already identified and prepared by the Otavi Town Council at the old airstrip approximately two kilometres south of Otavi for this project.
We have exhausted all the lengthy paperwork as well as the financial support for the project, Garab said.
The deputy mayor, without wanting to give away more information, said he is excited that a business partner from Switzerland with rich experience in steel manufacturing is also ready to start and has signed a shareholding deal with the town council.
Garab said the Otavi Town Council will own 20 per cent shares in the project, while the business mogul from Switzerland will hold the remaining 80 per cent.
A total of 700 direct jobs are expected to be created at the factory.
The factory will buy and melt scrap metal materials to manufacture the steel wires and irons from the 14 regions.
The real idea behind this project is to have the cement factory at Ohorongo and a steel manufacturing company close to each other in Otavi since our contractors will need both of these materials in their construction activities, Garab said.