Opponents of the controversial Epupa hydro power project planned at the Kunene River might sigh with relief as the Namibian government appears to have opted for the Kudu gas field exploration instead. NamPower and Namibia were left with no option but to look at the new alternatives of power generation sources, the Namibian power utility declared in a statement. One of NamPower’s options was the US$ 1 billion Kudu gas field project near Oranjemund. "The Namibian Government intends to develop a Combined Cycle Gas Turbine (CCGT) power plant capable of 800 MW – 1600 MW at Oranjemund", NamPower now announced on its website. NamPower further invited interested individuals and other parties to register as such on the parastatal’s website because a feasibility study about the gas field is to start soon and NamPower also looking for a project advisor. The phased project involves the construction of a minimum 800-megawatt (MW) power station at Oranjemund to use gas from the offshore Kudu field for electricity, mainly supplying the Namibian electricity market in the initial phase but with the balance going to the Southern Africa Power Pool (SAPP). The Kudu gas field, located 170km offshore has 1.3 trillion cubic feet (tcf) of proven gas reserves in place. This is enough to supply power to the 800 MW power plant for over 20 years. The total cost of the first phase of the project is about US$ 400 million, NamPower stated.

Called the "Kudu Gas to Power Project" NamPower together with the National Petroleum Corporation of Namibia (Namcor) have been mandated by the Government for the downstream development of this project. Currently, the pre-feasibility study is in progress but has to be finalised. Once the main feasibility study is approved, the project will commence, NamPower said.

The company is looking for a suitable advisor who will be responsible for the necessary technical and specialist advice during all developmental phases from conceptual design to maintenance and operation of the power station. Project management, evaluation and advice of technical aspects in the development of sound power purchase agreements and gas sales agreements will be part of the duties.

Namdeb and NovaNam signed an agreement at Oranjemund on Wednesday for the development of an aquaculture project in the mined-out seawater ponds within Namdeb’s Mining Area 1. The signing is the first step in the joint aquaculture project to start with an 18-month research phase to determine the feasibility of the ponds for breeding various fish species. The Group CEO of NovaNam, Mr Angel Tordesillas and Namdeb General Manager Mr Rob Smart signed the agreement with Fisheries Minister Dr Abraham Iyambo. The signing ceremony was followed by a visit to the ponds inside the mining area.

Minister Iyambo stressed that the development of aquaculture in Namibia has great potential to boost the income of Namibia. He cited the example of Chile, where aquaculture in one industry alone, namely salmon, ensure employment for 25 000 people, and brings an income equivalent to N$10 billion per year to the country.

Mr Tordesillas, indicated that the Pescanova Group worldwide aimed at achieving 50% of its raw material throughput from aquaculture activities, which amounts to 100 000 tons per annum.

Namdeb General Manager, Mr Rob Smart, said that the agreement was within Namdeb’s philosophy of sustainable investment, and it represented a great opportunity for diversifying the economy.

Namibia Post & Telecom Holdings Ltd. (NPTH) on Wednesday acquired the remaining share capital of 49% in MTC, formerly held by two Swedish companies. NPTH, which currently owns 51% of the share capital in Mobile Telecommunications (MTC), will acquire the total shares of Overseas Telecom AB (26%) and Swedfund International AB (23%). The deal places NPTH in full control of MTC as one of its subsidiary companies. NPTH is 100% owned by the Namibian government. The transaction costs N$388 million plus an additional maximum N$110 million to be paid over the next 3 years, depending on the financial performance of MTC. The deal is funded by a consortium loan funding agreement between 4 leading local banks: First National Bank, Commercial Bank of Namibia, Bank Windhoek and Standard Bank Namibia. The Swedish partners stated they participated in the formation and
development of MTC and since the company now "is mature and well performing" it was an appropriate time to exit. MTC, which has expanded its total customer base to about 300 000 received a license by the Namibia Communications Commission (NCC) in 1995. It invested about N$ 600 million in the local mobile communications network infrastructure. NPTH intends to sell 15% of the shares within the Namibian market by 12 months to implement "broad-based black economic empowerment". Some 34% of the shares will be sold to a trategic mobile telecommunications technical partner later. Swedish national Bengt Strenge, current MD of MTC, will remain in his position under a new one-year employment contract. The rest of the management team and staff of MTC will remain as is and will not be affected by the take-over.