Finance now in place for new container terminal at Walvis Bay

Namibia’s Finance Minister and Governor for the Bank, Sara Kuugongwelwa-Amadhila who signed the loan guarantee and grant agreements on behalf the Government in Windhoek stressed the importance of the project which aims to position Namibia as a regional logistics hub by 2017.

It is expected to enable Namport to triple the container-handling capacity at the Port of Walvis Bay from 350,000 to 1,050,000 teu per annum. It will also finance the purchase of up-to-date port equipment and the training of pilots and operators for the new terminal. The grant component will fund the preparation of the National Logistics Master Plan study, technical support and capacity-building for the Walvis Bay Corridor Group and training of freight forwarders with particular emphasis on female staff.

The project will stimulate the development of and upgrade multimodal transport corridors linking the port to the hinterland while improving the country’s transport and logistics chains. It will also boost competition among the ports and transport corridors in the region with the ripple effect on reductions in transportation costs and increased economic growth.