Otavi Steel and Danieli Signed a Commercial Contract for the Otavi Steel Nanomill in Namibia

Otavi, Namibia, April 27, 2012 --(PR.com)-- The Namibia-based steel mill premier, Otavi Steel, and the Italy-based company, Danieli, one of the world’s largest providers of steel making technology and equipment, signed a Commercial and Technical Agreement on March 7, 2012 for the development and construction of the Otavi Steel Nanomill in Otavi, Namibia.

The construction of the Otavi Steel Nanomill, with a capacity of 300,000 tons/year of rebars and billets, is expected to begin in April 2013 and be commissioned 22 months later. The Company plans to expand its steel mill facility to an annual gross production capacity of 10.3 million net tons of steel, making it the largest integrated steel manufacturer in Africa.

"Otavi Steel continues to seek and alliance itself with a diverse pool of investment partners and technology providers from different industries around the world for the efficient development, construction, and commissioning of the Otavi Steel Nanomill," says Simon Kapenda, Project Director.

Otavi Steel (Pty) Ltd is a Namibia based and owned company, incorporated and registered in Namibia (registration #2007/0307) under the laws of the Republic of Namibia Companies Act, 1973 (Act 61 of 1973). The Company’s founding members with equal shareholding ownership are Groot Group, Otavi Town Council, SDS Group Namibia, and Andre Neethling Family Trust.

About Otavi Steel (Pty) Ltd
Otavi Steel (Pty) Ltd is a premier company that plans to focus on the manufacturing of a wide range of short and long steel products as well as value-added steel sheet and tubular products for the automotive, appliance, container, industrial machinery, construction, and oil and gas industries around the world.