Windhoek, Namibia, December 04, 2011 --(PR.com
)-- Groot Group, Otavi Town Council, SDS Group, and Andre Neethling Trust have joined forces on an equal shareholding value to form a joint venture, namely; Otavi Steel Mill (Pty) Ltd, for the development of the Otavi Steel Mill Plant in Otavi, Namibia.
SMS Group South Africa, a wholly-owned subsidiary of the Germany based SMS Group and Italy based Danieli seek to provide the Otavi Steel Plant with the needed steel making technology and equipment, while South Africa-based Scorpion Mineral Processing has been selected for the Engineering, Procurement, and Construction Management (EPCM) for the Otavi Steel Mill Plant.
Budgeted at more than US$3 billion (N$24 billion) for its development and construction, Otavi Steel Plant will have an annual output capacity of 10 million tons of steel, making it the largest steel manufacturing plant in Africa.
"We're happy to have local Namibian entrepreneurs and the Community as partners in this project and looking forward to working with them and our financing and development partners for the development and eventually commissioning of this mega project. It's a lifetime opportunity one gets to work on something as awesome as this which is poised to change the face of Otavi while boosting its local economy,” states Simon Kapenda, Chief Economist and VP Development Operations of Groot Group.
The Otavi Steel Plant expects to create more than 15,000 of new construction jobs in Otavi and more than 50,000 of indirect jobs throughout Namibia. "This project is an ecosystem by itself as more developers are expected to flock to the Otavi area to setup new businesses to provide services and housing development for the Otavi Steel Mill workers. It will also boost the supplying of raw materials especially in mining to feed this Plant,” adds Simon Kapenda.
"This project and other projects of similar magnitude is what our country currently needs, to create sustainable economic value for local and central government, communities, people, partners, and shareholders.” Says Danny Kamunoko, Managing-Director of SDS Group.
Groot Property Group (Pty) Ltd is developing a rapid industrial ecosystem in Namibia with more than 60 different projects which includes Groot (an industrial hub), 900 MW Gas-fired Power Plant, Wire and Cable Plant, Engineering College, Medical Center, International Airport, and more related industrial projects that would enable a creation of more than 500,000 direct and indirect better paying and sustainable job opportunities in Namibia within 3 years.
About Groot Property Group (Pty) Ltd
Groot Property Group (Pty) Ltd is a Namibia-based premier rapid industrial development and foreign direct investment management company which focuses on implementing applied neuroeconomics and systems dynamic to efficiently explore, develop, and manage self-sustained ecosystems for the slow-developing and stagnant economies. Learn more about Groot Property Group (Pty) Ltd at http://www.grootgroup.com.
Simon Kapenda, Chief Economist; VP Development Operations
Groot Property Group (Pty) Ltd
Web site: http://www.grootgroup.com