Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Namibia: Namport Expansion On Track for 2017 OpeningFriday, June 26, 2015 > 09:42:10
THE construction of the N$3 billion container terminal at Walvis Bay is well on track, Namport CEO Bisey Uirab said this week.
"Construction is currently 25% completed. Commissioning of the project is expected to occur in September 2017," he said when he gave a project update in response to questions sent by The Namibian.
The funding of the project is being provided by the African Development Bank (N$2,9 billion) the government (N$725 million) and N$525 million from Namport cash reserves.
"The Port of Walvis Bay will command a significant market share of the regional seaborne trade after completion. However, it should be noted that all ports in the SADC region are in the process of developing and expanding," he said.
Uirab said so far about 2,9 million cubic metres have been dredged and used for land reclamation. A total of 3,9 million cubic metres will have been dredged at the end of the project. "Project commissioning is set for September 2017," he said.
On completion, Walvis Bay will have 750 000 TEU per annum from 350 000 TEU at the moment. The twenty-foot equivalent unit (TEU) is an inexact unit of cargo capacity often used to describe the capacity of container ships and container terminals.