WINDHOEK, Dec. 9 (Xinhua) -- Namibia's water utility NamWater announced on Tuesday that it has finalized a joint venture agreement with Swakop Uranium, a subsidiary of China General Nuclear Power Group (CGN), to construct Namibia's largest seawater desalination plant in the Erongo Region.

Valued at 3 billion Namibian dollars (about 176 million U.S. dollars), the modern desalination plant will be financed by Swakop Uranium to meet both the company's and the region's current and future water needs, according to a press release.

Swakop Uranium, which will provide the capital and technical expertise, will hold a 70 percent share in the joint venture, while NamWater will retain the remaining 30 percent.

Meanwhile, NamWater will ensure public-sector oversight, regulatory compliance, and integration with the national water infrastructure.

NamWater said the initiative represents a crucial strategic investment aimed at enhancing Namibia's long-term water security and promoting industrial development.

The Erongo Region is one of Namibia's most economically active areas, hosting several uranium mining operations, growing industries, and expanding communities.

"With limited freshwater resources and climate variability placing pressure on traditional sources, desalination has become a reliable and sustainable option for securing long-term water supply," the statement said.

The joint venture guarantees a long-term, cost-stable water supply for Swakop Uranium, it added. ■