Hangana Seafood to construct N.dollars 300 million factory

16 Apr 2019 06:20am
WALVIS BAY, 16 APR (NAMPA) - Fisheries and Marine Resources Minister Bernhardt Esau has called for economic inclusivity in the fishing sector in order to ensure that there is equitable distribution of Namibia’s fisheries wealth.
“This should include equal participation of workers and payment of living wages to workers, because they are the primary economic drivers in the fishing industry,” he said.
Esau made these remarks during the groundbreaking ceremony for the construction of a new N.dollars 300 million processing facility for Hangana Seafood, a subsidiary of the Ohlthaver & List Group, here on Monday.
Investments in the fishing industry should also be accompanied by proportionate job creation, which is one of the requirements on the scorecard for the allocation of fishing quotas and which is currently being prepared to be gazetted, he said.
The minister further called upon the private sector to invest more in fisheries value addition, especially in hake and horse mackerel, as there is still a significant value addition gap to bridge.
Hangana Seafood Managing Director Herman Theron in his address explained that the existing Hangana processing facility has a net asset value of close to N.dollars 4 million and a capacity of 21 900 MT throughput per year.
The new factory will enable the company to extract more value from its raw material and deliver products in demand.
“The new facility will have a capacity of 25 000 MT throughput a year, as well as cold store capacity of 2 500 MT which will be utilised for internal use and also to provide a service to other players in the industry in need of storage space/capacity.”
A further investment of N.dollars 19,8 million will allow Hangana to process other fish species such as horse mackerel within the next five years in the existing factory, Theron added.
The construction is expected to be completed in September 2020 and will be an expansion of Hangana’s existing processing facility in Walvis Bay.