GOVT PROVIDES 5.3 BLN NAMIBIAN DOLLARS FOR MINING AND ENERGY SECTOR

WINDHOEK, Feb 20 — The Namibian government is allocating 5.3 billion Namibian dollars (about 488 million US dollars) for the mining and energy sector under its Medium-Term Expenditure Framework (MTEF) for the development of the Kudu Gas Power Project, rural electrification and for support to state-owened Epangelo Mining.

This was stated here Wednesday by Finance Minister Saara Kuugongelwa-Amadhila when he tabled the 60.28 billion NAD (about 5.55 billion USD) 2014/15 National Budget in Parliament.

For the 2014/15 ficcal year, a total of 11 million NAD has been allocated to Epangelo Mining while 500 million NAD would go to national power utility NamPower for the construction of the 800 megawatt (MW) Kudu Gas Power Project.

Highlighting some of the key budget achievements during 2012/13 and 2013/14, the minister said investment in the mining and energy sector focused mainly on energy generation and transmission infrastructure in order to promote energy security for industrial and household use.

“Through the rural electrification programme, an additional 22 localities and 68 business units countrywide were electrified during the 2012/13 financial year,” she added.

Kuugongelwa-Amadhila said progress was made with the expansion of the Port of Walvis Bay, and the construction of a new container terminal.

She said in this regard, the government had issued a guarantee of 2.9 billion NAD for the Namibian Port Authority (Namport) to secure a loan to undertake the project.

Kuugongelwa-Amadhila said with regards to road and rail infrastructure, the key transport projects which were completed included Section C of the Tsumeb-Katwitwi road, upgrading of the Gobabis-Otjinene road to bitumen standard, and the ongoing upgrading of the Kranzberg-Tsumeb railway.

Source: NAMPA

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