A SOUTH Korean business delegation and the South African Stewco Group of Companies are exploring investment opportunities in agriculture and solar energy in the Karas Region.
The delegation headed by Mark Lee will look at the viability of setting up a 200-megawatt solar power plant and greenhouses for the cultivation of vegetables and fruits. The delegation yesterday met with the Karas Regional Council’s administrators and politicians to present their business ideas. They said funding for the planned projects will be secured through an American-based pension fund looking at investing in sub-Saharan African countries’ infrastructure development.When asked to reveal the monetary value of the planned investment, Stewco Group of Companies chief executive officer Fred Stewart played his cards close to his chest. ‘A substantial amount is available. The South Koreans and our company will invest 50 per cent each,’ Stewart replied. Saying potential investors have come and gone, Berseba constituency councillor Dawid Boois remarked: ‘Meetings, meetings, then investors disappear. We want to know the seriousness of investors. How serious are you?’ Lee responded: ‘We want to do business. We are very serious. We don’t like too much talk, we want action.’ Lee revealed that plans are afoot to build a 200 MW power plant in South Africa’s Northern Cape Province. Welcoming the investment possibilities, Karas Governor Bernadus Swartbooi said Namibians should also be brought on board through joint ventures. luqman@namibian.com.na
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