EC SPECIAL ECONOMIC ZONE
East London - A R1.3-billion investment by government into three
economic zones in the country will breathe life back into the Eastern
Cape's economy.
Coega Development Corporation (CDC) marketing and communications
manager, Ayanda Vilakazi, said according to the 2012
Estimates of National Expenditure, government has set aside an
estimated R1.3 billion for developing industrial development zone
infrastructure to increase the export of value-added commodities.
"This money will be spent on the expansion of Coega, South Africa's
largest IDZ, as well as the IDZs in East London and Richards Bay. This
once again highlights government's continued dedication to
infrastructure development," said Vilakazi on Friday.
Vilakazi said while Wednesday's announcement by Finance Minister Pravin
Gordhan during the national Budget Speech of a R3.2 trillion cash
injection for mega-projects would have far-reaching implications for
Coega, it was important to note that the IDZ had already attracted
substantial investment on its own.
"The Coega IDZ currently has 21 operating investors, which represents
R1.24 billion in private sector investments. To date, this has created 3
645 construction jobs, 2 985 direct jobs and 25 000 indirect jobs,"
said Vilakazi.
He said the IDZ also had projects worth R7.6 billion in the pipeline for
2012, with other projects either delayed or still being negotiated --
bringing total investment to R140 billion.
In his State of the Nation Address, President Jacob Zuma announced a new
manganese corridor from the Coega IDZ to the Port of Ngqura, with
Transnet set to build a railway line to carry 16-million tons of
manganese to the port every year.
During her State of the Province Address in Bhisho last week, Eastern
Cape Premier Noxolo Kiviet hinted at the launch of PetroSA's R76 million
Mthombo Oil Refinery project at Coega.
"This could prove to be another big boost to the Eastern Cape economy.
It will go a long way to contributing towards the IDZ's continued
growth. These projects will act as a catalyst for socio-economic
transformation and industrial diversification in the province," said
Vilakazi.
Another investment by a Chinese auto-maker to start building a
$1-billion assembly plant by the end of February will see over 2 000
jobs being created at Coega.
"Investments in infrastructure remain a positive contributor towards job
creation, which will be realised in the short-term construction phase
as well as the longer-term maintenance and operation phase," said
Vilakazi. - BuaNews
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