The envisioned steel plant will expectedly create jobs for low-income residents of Otavi in the Otjozondjupa region, Namibia.
With the establishment of the factory, worth N$2.6 billion, jobless young people will get back to work.
Otavi constituency council is cooperating with NedBank to put it into action. Accordingly, 77 hectares have been allotted to build the factory. George Garab said this has been planned to battle the high unemployment rate in Otavi, emphasizing the council has a 20% share in the project.
Andre Neethling, director of Noric Otavi, with a 20% share in the project, said the funding will be closed in the first quarter of the coming year, following the completion of the study.