Omani entity eyes 75% in N$324m Karibib marble plant deal

Oman-based Al Tasnim Group is proposing a 75% controlling stake in a planned N$324 million marble-processing factory in Karibib, with the Namibia Industrial Development Agency (Nida) holding the remaining 25%.The project that involves Al Tasnim through its investment vehicle Trident Marble FZCO would establish the factory on 16 hectares of land in Karibib.Nida acting chief executive officer Phillip Namundjebo confirmed the development on Tuesday and said the project seeks to establish "a state-of-the-art marble processing factory to process locally sourced dimension stone".The first phase is expected to have the capacity to produce 360 000 square metres of processed marble products annually.Namundjebo did not disclose how Nida’s proposed 25% equity contribution would be funded or whether it would consist of cash, land, infrastructure or a combination of these.He said Nida signed the agreement on 1 December 2025 and an addendum in March, giving the parties additional time to complete the transaction documents.Although Nida describes the agreement as binding, the final transaction documents were still pending at the time Nida responded.Namundjebo said the agreement formed the basis of a project term sheet considered through Nida’s internal governance structures.“The heads of agreement served as the foundation for the term sheet presented to the Nida board following an initial evaluation by the industrial committee,” he said.New site securedThe proposed development resulted in a land-exchange arrangement between Nida and the Karibib Town Council.Namundjebo said Nida initially planned to use a 26-hectare industrial property it owns in Karibib, but the site was considered unsuitable because of its proximity to a residential area."As this site is located adjacent to a residential area and deemed unsuitable for large-scale industrial operations, Nida collaborated with the Karibib Town Council on an alternative arrangement,” he said.A 16-hectare replacement site was subsequently identified through what Nida described as a formal land-swap process. Namundjebo said Nida would retain the remaining 10 hectares of its original property.Nida and the town council did not provide Namibian Sun with the exact location or valuations of the properties involved in the exchange.Karibib Town Council chief executive officer Tangeni Enkono said council welcomes the project.“The town council's position on the project is that we welcome and support all investment in the town that improves the livelihoods of community members and contributes to the town's economic development and Namibia's GDP,” Enkono said.Productive areaThe proposed plant is intended to increase the volume of Namibian dimension stone processed locally instead of being exported in raw form.Namibia already produces and exports marble and other dimension stones, with the Karibib district among the country’s main production areas. The country’s dimension-stone products include marble, granite, dolerite, conglomerate and sodalite.“The facility focuses on in-country processing and beneficiation of Namibian dimension stone (blocks) that are currently exported primarily as raw materials (mainly to China)," Namundjebo said.Once operational, the plant will export finished marble slabs, tiles and cut-to-size products to major international markets across the USA, Europe, the Middle East, the Far East and India, Namundjebo said.Nida said the plant would incorporate closed-loop water recycling, advanced waste-management systems and dust-suppression infrastructure.Details of the project’s environmental-clearance status, electricity requirements and anticipated water consumption were not provided.The agency also expects the project to transfer technical skills to Namibian workers, although it did not disclose the number of construction and permanent jobs expected to be created.“The project will upskill local Namibian workers through specialised training on operating and maintaining high-end automated marble processing machinery,” Namundjebo said.Mineral rightsA government official familiar with the project, who was not authorised to speak publicly, claimed that the investment was initially presented as requiring land for a marble-processing plant but that the investors later sought Nida’s assistance in engaging the authorities responsible for mineral rights.The official further claimed that Namundjebo assisted in facilitating engagement between the investors and the mines ministry.The official did not provide documents showing that Al Tasnim or Trident Marble had applied for mineral rights, that Namundjebo had improperly intervened in a licensing process or that any licence had been granted.Seeking an exclusive prospecting licence, mining licence or mining claim is not, by itself, unlawful. Applications must be submitted to and determined by the relevant authorities under Namibia’s mineral-licensing framework.Asked whether Al Tasnim or Trident Marble had sought mineral rights and whether he had engaged the ministry on their behalf, Namundjebo did not provide a direct confirmation or denial.“While private investors independently evaluate commercial opportunities to acquire exclusive prospecting licences (EPLs), mining licences and mining claims for dimension stone, base metals, precious metals, nuclear fuels, or rare earth minerals, Nida’s mandate is strictly administrative and supportive in terms of trade facilitation and industrial infrastructure delivery,” he said.Al Tasnim is headed by managing director Devaki Gulabsi Khimji. The company did not respond to requests for comment.The group operates a marble and industrial-minerals division and says it sources natural stone from several countries. Its website identifies Namibian premium white and palisandrio-type fusion marble among its products.

Omani entity eyes 75% in N$324m Karibib marble plant deal

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Namibian Sun 2026-09-11

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Omani entity eyes 75% in N$324m Karibib marble plant deal

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Namibian Sun 2026-09-11

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