From All Africa via The Namibian
The African Development Bank, which was commissioned by the Ministry of Mines and Energy to do a due diligence on the Kudu Gas Project, expects ‘positive economic returns’ from the project.
This was disclosed by Bank of Namibia governor Ipumbu Shiimi, when he addressed a discussion organised by the Economics Association of Namibia and Hanns Seidel Foundation in Windhoek yesterday.
Responding to a question, on the expected costs to the government on loans to fund the construction of Kudu, Shiimi said the study by the African Bank found that the economic benefits will be favourable.
The gas fired plant is expected to cost US$1,2 billion and will use natural gas from the Kudu fields off Namibia’s southern coast.
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