N$1.8bn Factory for Karibib

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By Desie Heita

WINDHOEK

Namibia is experiencing a new mineral rush with characteristics almost similar to the diamond rush experienced along the Skeleton Coast a century ago.

The diamond rush instantly transformed many into wealthy people though not everyone became rich. Yet, besides the uranium rush which is due to the recent escalation in uranium prices, cement has become the biggest in-thing for local and foreign investors.

Each entrant claims, just as with every other entrant, that Namibia would soon have a world-class cement factory.

The Ministry of Trade and Industry says it is inundated with requests by investors wanting to give presentations on cement manufacturing and to request for Government infant industry protection status, once they set up shop.

Although each company wants to establish a factory with an output of nearly one million tonnes per annum, each applicant seems to be competing for the target of 350?

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