Finweek English Edition - - THE WEEK -

Ja­panese au­tomaker Toy­ota has in­vested over R6.1bn in its Prospec­ton plant in Dur­ban to en­able pro­duc­tion of the new Hilux and For­tuner, the biggest sin­gle in­vest­ment the group has made to date in SA. In ad­di­tion to Toy­ota’s in­vest­ment, its sup­pli­ers in­vested over R1.7bn, cre­at­ing as many as 2 000 new jobs, the group said at an event at the plant on 24 May. Pres­i­dent Zuma, who was also in at­ten­dance, said gov­ern­ment has started work­ing on a plan to ex­tend its sup­port for the in­dus­try beyond the cur­rent cut-off date of 2020, and plans to fi­nalise the new in­cen­tive plan by March 2017.

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