Savanna Beef Processors is planning to start construction of its new export beef-processing facility in May.
The project, which is being initiated by the Beef Value Chain Forum (BVCF), seeks to ensure a prosperous future for the Namibian beef industry through profitable exports.
The latest development comes after Savanna Beef Processors requested proposals for the Engineering, Procurement and Construction of the Plant in December 2022.
“Three companies attended an on-site inspection on 25 January 2023. All seemed very positive about the project. The deadline for the tender process is at the end of March 2023. The BVCF in conjunction with the SBP shareholders will take a decision, and hopefully the construction of the Processing Plant can start in May 2023,” the company stated.
The new facility is expected to retain an additional 50,000 weaners for slaughter cattle production.
Agriculture Minister Calle Schlettwein earlier this week attributed Savanna Beef Processors’ plans to Meatco’s poor performance and its inability to provide a profitable market for farmers.
BVCF said it initiated Savanna Beef Processors to create a sustainable cattle slaughter and marketing industry, which now represents over 659 producer shareholders, and Savanna Beef Processors announced in September last year that it would turn to institutional investors to raise a N$26.4 million shortfall from its capital raising effort, after raising N$173.568 million from a targeted N$200 million, with an additional N$300 million in debt being targeted.
Namibia now exports beef to the European Union, Sweden and Norway, as well as the United States and China.