NamPort’s revenue rises to 73 mln USD

WINDHOEK, FEB 20– Namibia Ports Authority (NamPort)’s total revenue rises to 1 billion Namibia dollars (73 million U.S. dollars) in the 2017/18 financial year.
The figure is compared to 891 million Namibia dollars (63 million dollars) recorded in the previous financial year, according to the company’s annual report that was tabled by the Minister of Works and Transport in parliament Tuesday.
Although the company’s transshipment container volumes decreased, local corridor and import and export volumes increased, which attracted better returns, the report indicates.
“Operating profits for the year increased with 32 percent amounting to 121 million Namibia dollars (8.6 million dollars),” the report reads.
Furthermore, construction of the new container terminal is progressing on schedule and the project now stands at 85 percent completion in terms of construction works. The project has been scheduled for completion and commission early in the 2019/20 financial year.
The new liquid bulk terminal at the Port of Walvis Bay’ north Port implements by the Ministry of Mines and Energy is currently 90 percent completed with completion planned for 2019 and commissioning soon thereafter, the report reads. – XINHUA