Namibia
This article was added by the user . TheWorldNews is not responsible for the content of the platform.

Govt’s land lease to Hyphen to rake in N$330m

Hyphen, the company that was awarded the contract to spearhead the large-scale green hydrogen production in Namibia, will today launch its socio-economic development framework, which details the benefits and opportunities for Namibians.

And that includes some N$330 million rental income for the state.

On Friday, the company revealed that this framework highlights the socio-economic development plans and strategies of implementation through skills development, employment, local procurement and corporate social investment.

According to the framework, Hyphen targets to create 15 000 jobs during construction phase, 3 000 jobs during the operational phase with 90% who must be Namibians being employed and 20% of them young people.

“These numbers are subject to change. We might be looking at a greater or lesser number, but we will only know for sure after we have started with the verification process,” said Toni Beukes, the head of environment, social and governance at Hyphen.

To ensure the process of hiring is fair and void of corruption, Beukes said: “We, as a company, have our values clearly outlined and we plan on putting up policies that force all parties involved, including the government, to be transparent. Hence, we have set a skills database.”

SKILLS DEVELOPMENT

Beukes said the company will need about 50-60% technical and vocational education and training (TVET) participation. Nimt is the only institution offering level 4 to 5 which is what we need.

She further noted that the company has also set up a skills database to gather information on the skills currently available in the country and the training it can offer.

Hyphen, in collaboration with the government, plans to offer training, internships and capacity-building initiatives to bridge the skills gap.

This project will bring economic growth not just to the affected towns but also the whole nation.

“Apart from royalties, government shareholding and taxes, the government is also set to make N$330 million annually for a period of 40 years through the land lease agreement,” said Beukes.

“And a 30% stake in a N$10-billion deal is a significant amount,” she said.

Small-scale entities and local businesses are also set to benefit from this deal, as Hyphen intends to source goods and services from local entities and also help scale these entities.

Lüderitz and Aus are set to benefit the most from the proposed project. Hyphen has proposed to the government to supply excess electricity from the project.

The company will also supply water to Lüderitz and Aus.

“To address the expected growth that will be taking place in these towns, we have engaged the government to construct roads and public infrastructure,” said the company.

Through their housing project, Hyphen will provide accommodation for its employees and contractors during the construction and operational phase.

Hyphen will also be doing a two-week national tour scheduled from next month to October this year, visiting two towns per region to educate the community on the framework on the best forms of reaching them when it comes to opportunities.

Email: [email protected]