Energy Fund's N$50m to Help Plug Fuel Gap: "MINISTER of Mines and Energy Erkki Nghimtina says Government is under pressure to compensate oil companies for petrol imports during 2005, having sold it for much less than the cost of bringing it to Namibia.
The National Energy Fund will receive N$50 million from the 2006-07 National Budget to help plug the gap.
Nghimtina told the National Assembly this week that Government could not allow itself to be caught in the same position this year and would continue to monitor and adjust prices in line with the cost of importing petroleum products."
"Over the next three years, Government will contribute N$750 million to the development of a gas-fired power station at Oranjemund - Kudu Gas.
Nghimtina said his Ministry was also committed to ensuring an interconnection between Zambia and Zimbabwe to increase Namibia's chances of engaging actively in regional electricity trading."
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