Mediterranean Shipping Company’s Africa Global Logistics (AGL) unit plans to invest up to N$780 million (US$43 million) in Namibia by 2030, leveraging the country’s expanding oil, gas, and renewable energy sectors.
AGL is constructing a warehouse in Walvis Bay and plans additional investments in Lüderitz to support oil exploration and the import of wind turbines and other renewable energy equipment, according to Koen Rombouts, AGL’s Managing Director for the Southern African Corridor.
The company is also establishing an energy unit in Namibia to provide oil and gas services, targeting explorers such as TotalEnergies and Shell, which have recently made significant discoveries.
This comes as another MSC Mediterranean Shipping Company subsidiary, Terminal Investment Limited (TIL), through its newly incorporated Namibia subsidiary, Terminal Investment Namibia (TiN), has commenced a 25-year concession agreement with the Namibian Ports Authority (Namport) at the New Container Terminal at the Port of Walvis Bay.
The handover of container handling operations by Namport in October marks the beginning of substantial operational improvements at the terminal.
These enhancements include immediate dredging activities to widen and deepen the entrance channel to a depth of 16 meters Chart Datum (CD), enabling the accommodation of larger vessels.
The decision to concession the N$4.2 billion New Container Terminal, commissioned by Namport in 2019, was driven by significant shifts in the shipping industry and challenging economic conditions.
Namport aims to recoup its investment while leveraging TIL’s expertise to enhance the port’s efficiency and competitiveness.
