Namibia's Tunacor Fisheries will become the first local fishing company to own a custom-built fishing vessel, reports allAfrica.

Named Oshiveli, the new vessel will be built in at Vigo shipyard in Spain at a cost of NAD 160 million (€11.1 million/$12.4 million).

Plans show the vessel will be 53 meters in length and more than 11 meters wide, with a gross tonnage of 1,200 metric tons and a holding capacity of 500 metric tons.

It also has a freezing capacity of 40 metric tons a day in its tunnel and plate freezers.