Ramatex land on the verge of sale Shinovene Immanuel THE City of Windhoek is on the verge of selling part of the land on which Malaysian textile firm Ramatex was based, after a recommendation for the N$200 million sale was made to the council’s management committee. The company that has proposed to buy the land is NamUSA, a joint venture between business personalities from Namibia and the United States. Chief Executive of the City of Windhoek Niilo Taapopi yesterday confirmed that he, together with his team, recommended to the councils’ management committee to accept the offer by the company, which plans to re-establish a clothing factory at the old Ramatex building near Otjomuise in Windhoek. “We the technical people have recommended to the management committee to accept the proposal. It is now up to them to decide whether it’s a good deal or not,” he said. The management committee is set to meet today in order decide on the proposal. NamUSA offered to pay the City of Windhoek N$200 million for the 38 hectares of land and N$178 million to the joint liquidators of the Ramatex Group of Companies. The total size of the land is 117 hectares and the city pans to subdivide the rest of the area. Alfred Cooper, a businessman who is one of the co-owners of NamUSA, yesterday confirmed their bid to buy the land instead of their initial plan to lease the land. The City was offering them a two-year lease period while the investors wanted 10 to 50 years. The investor earlier this year said they were intending to employ about 20 000 people. Council agreed last year already that NamUSA can take over the land and property of Malaysian textile firm Ramatex. However the bone of contention was on the the lease period between the City and the investor. Details of the ownership of the new joint venture are still sketchy at the moment. The known names at present are Cooper, representing his USA partners, while the only known Namibian partner in the business is a former permanent secretary in the Ministry of Education, Vitalis Ankama. The Malaysian textile company Ramatex closed down in 2008 and left about 7 000 employees without work. - See more at: namibian.na/indexx.php?id=1620&page_type=story_detail&category_id=1#sthash.pCeK1Ylx.dpuf
Posted on: Tue, 23 Jul 2013 09:20:30 +0000
Trending Topics
Recently Viewed Topics
© 2015