{"id":270298,"date":"2019-06-19T17:47:48","date_gmt":"2019-06-19T15:47:48","guid":{"rendered":"https:\/\/informante.web.na\/?p=270298"},"modified":"2019-06-19T17:47:48","modified_gmt":"2019-06-19T15:47:48","slug":"commercial-banks-cough-up-n5-6-billion-for-debmarines-newest-vessel","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=270298","title":{"rendered":"Commercial banks cough up N$5.6 billion for Debmarine\u2019s newest Vessel"},"content":{"rendered":"

Zorena Jantze<\/p>\n

IN what is being dubbed as the single largest investment into marine mining vessel funding, Debmarine Namibia has acquired a total of N$5.6 billion to finance the building of its latest marine mining vessel, the AMV3.<\/p>\n

\"\"<\/a>
DONE DEAL: The CEO of Debmarine Namibia, Otto Shikongo, flanked by several of the CEOs of the funding Banks. Photo: Zorena Jantze<\/figcaption><\/figure>\n

The funding was procured from 5 commercial banks, namely, Standard Bank, Bank Windhoek, Ned Bank , RMB Namibia, and Absa Bank.<\/p>\n

Speaking at the signing ceremony, CEO of Debmarine Namibia, Otto Shikongo, stated that the combined contribution of the commercial banks makes up N$5.6 or 80% of the total AMV3 acquisition.<\/p>\n

The remaining balance, N$1.4 billion or 20%, will be covered by Debmarine.<\/p>\n

He added that the new ship will produce 500 000 carats per annum, an increase of 35% of Debmarines current production.<\/p>\n

Shikongo added that the project is also estimated to contribute N$2 billion per annum in taxes and royalties to the Namibian treasury; however, considerations will be made as Debmarine has to pay back the loan during the same period.<\/p>\n

Although he remained tight lipped on the modalities on the financing agreement, Ned Bank CEO, Karl Stefan Altman, stated that it would take an estimated period of between 5 to 10 years to repay the loan granted for the building of AMV3 marine mining vessel, adding that interest rate payments will be \u201cdependent on currency fluctuation\u201d.<\/p>\n

The construction of the AMV3 has already commenced in Romania and is expected to start operations in the year 2022.<\/p>\n

It will be registered at the port of Luderitz.<\/p>\n

\"\"<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Zorena Jantze IN what is being dubbed as the single largest investment into marine mining vessel funding, Debmarine Namibia has acquired a total of N$5.6 billion to finance the building of its latest marine mining vessel, the AMV3. The funding was procured from 5 commercial banks, namely, Standard Bank, Bank Windhoek, Ned Bank , RMB …<\/p>\n","protected":false},"author":11,"featured_media":270303,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":["post-270298","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news"],"yoast_head":"\nCommercial banks cough up N$5.6 billion for Debmarine\u2019s newest Vessel - Informant\u00e9<\/title>\n<meta name=\"description\" content=\"IN what is being dubbed as the single largest investment into marine mining vessel funding, Debmarine Namibia has acquired a total of N$5.6 billion to finance the building of its latest marine mining vessel, the AMV3.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/informante.web.na\/?p=270298\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commercial banks cough up N$5.6 billion for Debmarine\u2019s newest Vessel - 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