Coega bullish about 2017
According to Statistics South Africa (StatsSA), in the 2015/2016 financial year the Coega Development Corporation contributed 0.15% to the Eastern Cape’s GDP and 0.42% to the Nelson Mandela Bay’s economy.
In the current financial year (2016/17), the Corporation is projecting to build on that.
Dr Ayanda Vilakazi, Corporation unit head marketing and communications, said the organisation is optimistic that this year will once again highlight the Coega Industrial Development Zone (IDZ) as a prime investment destination of choice.
In addition the Corporation is taking on projects outside of the IDZ through its infrastructure development programme, expediting service delivery to South African citizens on behalf of the government.
There are six projects currently under construction within the IDZ, Vilakazi said. Five are expected to become operational by end of the financial year 2016/17.
“Five hundred and fifty five (555) people are currently contracted on the projects in the IDZ, 70% of whom are Nelson Mandela Bay-based residents, giving credence to our vision to become the leading catalyst for championing of the socio-economic growth,” Vilakazi said.
In the 2015/2016 period, CDC created 18 366 jobs (96 776 since inception), through projects in the IDZ and its infrastructure development programme, Vilakazi said.
In addition, the CDC had 36 operational investors with a combined investment value of R6.609 billion.
Some of the highlight projects within the IDZ for the year ahead include:
• The construction commencement of BAIC for a completely knocked down (CKD) automotive manufacturing plant in the Coega IDZ
• Implementation of energy related projects such as the gas-to-power programme with 1000 MW of the power facility allocated to the IDZ.
This project is key for energy security, diversity and socio-economic development.
A Redisa tyre recycling plant is one of six projects currently under construction at the Coega IDZ.