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Groot Property Group (Pty) Ltd and Western-Europe Based Partners to Build a 10 Million Metric Tons of Output Capacity Steel Mill Plant in Otavi, Namibia

FOR IMMEDIATE RELEASE -- WINDHOEK, Namibia, October 8, 2011 (Groot Property Group) --

WINDHOEK, Namibia -- October 8, 2011 -- Groot Property Group (Pty) Ltd is developing a rapid industrial ecosystem in Namibia with more than 60 different projects which includes Groot Town Center, 900 MW Gas-fired Power Plant, Wire and Cable Plant, Engineering College, Medical Center, and more related industrial projects that would enable a creation of more than 500,000 direct and indirect better paying and sustainable job opportunities in Namibia within 3 years.

One of these projects is Otavi Steel Mill Plant, being planned for development in the Otavi area in central Namibia. With a construction budget of US$3 billion, the Otavi Steel Mill Plant is expected to have a production output capacity of 10 million metric tons of steel per year which will be sold to customers in the automotive, construction, household appliances, and packaging industries around the world.

Groot Property Group (Pty) Ltd is developing the Otavi Steel Mill Plant in partnership with a Western Europe-based steel company, which will finance the construction of the Plant.

"The proposed Otavi Steel Mill Plant is expected to make a large economic impact to the town of Otavi and the entire country at large. As more people flock to the Otavi area in search of work, we expect to possibly see a gold rush of more new housing units and retail stores development in the area, which is what the town desperately needs right now." Says Simon Kapenda, Chief Economist and VP, Development Operations of Groot Property Group (Pty) Ltd.

The Environmental Impact Assessment (EIA) and the Feasibility Study are the first steps that must be completed prior to a ceremonious signing of the Partnership Agreement between the two companies and the shareholders involved. These studies are expected to be completed within 3 months and the Plant is expected to be commercial operation by the end of 2013 with more than 15,000 manufacturing employees.

"We now have three major projects underway; Groot Town Center, Groot Power Plant, and the Otavi Steel Mill Plant, all with a combined development and construction budget of US$5 billion (US$36 billion) to create more than 60,000 of direct jobs in Namibia." Says Peter Bruce Gwarada, CEO of Groot Property Group (Pty) Ltd.

The development of the Groot ecosystem is a win-win situation for the investors, local Namibians, and the Namibian government. Foreign investors in Namibia will have access to plenty of raw materials, high productive human capital, peaceful working environment, stable government with institutions conducive to good business. Namibia, a country of plenty is open for business!

About Groot Property Group (Pty) Ltd
Groot Property Group (Pty) Ltd is a Namibia-based premier rapid industrial development and foreign direct investment management company which focuses on implementing applied neuroeconomics and systems dynamic to efficiently explore, develop, and manage self-sustained ecosystems for the slow-developing and stagnant economies. Learn more about the Groot Property Group (Pty) Ltd at www.grootgroup.com.

Source: Groot Property Group (Pty) Ltd.

Contact
Simon Kapenda, VP Development Operations
Groot Property Group (Pty) Ltd.
Email: simon@grootgroup.com.

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