L. Fituni, I. Abramova Resource Potential of Africa and Russia's ...

cial architecture and food safety as issues where efforts need to be
coordinated.
A number of documents were signed during the visit, most notably
a memorandum of cooperation between Gazprombank and the
Namibian National Oil Corporation, and an intergovernmental
agreement on the mutual encouragement and protection of investments.
The first document provides for financing a project to build
an 800-MW gas turbine power plant. The cost of the project is estimated
at $1 billion. The fuel planned for use at the power plant is
natural gas from the Kudu field on the southern part of Namibia's
continental shelf. A significant portion of the power produced – 500
MW – will be supplied to South Africa. It is assumed that the contract
for the project will go to a Russian company. The timeframe
for completion is 3–4 years.
According to Russian Minister of Natural Resources and Ecology
Yuri Trutnev, Russian potential investments in Namibia are estimated
to be worth billions of dollars. In particular, coordination
has begun on two major power projects. Russia has made a proposal
to Namibia for comprehensive development of uranium deposits,
which suggests that nuclear power plants will be built in the country
in the future.
During the visit, the two countries signed a memorandum of understanding
between Rosrybolovstvo and Namibia's Ministry of
Fisheries and Marine Resources, which by the end of 2009 allowed
Russian ships to return to Namibia's economic zone, where they had
operated until 1991.
During the year Rosatom conducted negotiations with major
Namibian uranium mining companies. In some cases, the proposal
was to acquire stakes in companies owning deposits; joint mining
operations were also considered.
In May 2010, President of Namibia paid a visit to Russia.
Dmitry Medvedev and Hifikepunye Pohamba discussed further cooperation.
The talks were held in restricted and expanded formats.
The most important joint projects, particularly in energy, transport,
and mining sectors and some issues on the international agenda were
discussed. In his press statement, President Medvedev particularly
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