Coega to im­ple­ment two ma­jor projects this year

The Star Early Edition - - BUSINESS REPORT - Ka­belo Khu­malo

MULTI­BIL­LION-rand in­dus­trial de­vel­op­ment com­plex, Coega De­vel­op­ment Cor­po­ra­tion (CDC), is con­fi­dent about the year ahead as it plans to im­ple­ment two of ma­jor projects – the au­to­mo­tive man­u­fac­tur­ing plant and a gasto-power project.

In a state­ment last Fri­day, CDC said it had cre­ated 18366 jobs in the past fi­nan­cial year in ad­di­tion to at­tract­ing bil­lions of rands in new in­vest­ments. CDC is the op­er­a­tor of the Port El­iz­a­beth-based Coega In­dus­trial De­vel­op­ment Zone (IDZ) project that cov­ers 150 500 hectares of land.

It is lo­cated ad­ja­cent to the deep-wa­ter Port of Ngqura and just a few kilo­me­tres from the Port El­iz­a­beth port and its con­tainer, car, break-bulk and bulk ter­mi­nals. It was es­tab­lished in 1999 and is di­vided into 14 zones that pro­vide in­vest­ment op­por­tu­ni­ties for lo­cal and in­ter­na­tional in­vestors. To date the project has at­tracted over 54 new in­vestors with over R30­bil­lion in­vest­ment.

Great strides

Ayanda Vi­lakazi, a spokes­woman for CDC, said the project had made great strides in cre­at­ing jobs the Eastern Cape.

“Five hun­dred and fifty five peo­ple are cur­rently con­tracted on the projects in the IDZ, 70 per­cent 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,” said Vi­lakazi.

She said the CDC had 36 op­er­a­tional in­vestors with a com­bined in­vest­ment value of R6.6 bil­lion.

The cor­po­ra­tion has more than six projects cur­rently un­der con­struc­tion with at least five of these ex­pected to be­come op­er­a­tional by the end of this year.


The cor­po­ra­tion in­tends to im­ple­ment two key projects this year. The first be­ing the con­struc­tion com­mence­ment of Bei­jing Au­to­mo­bile In­ter­na­tional Cor­po­ra­tion (Baic) for a com­pletely knocked down au­to­mo­tive man­u­fac­tur­ing plant and the im­ple­men­ta­tion of en­ergy re­lated projects such as the gas-to-power progamme with 1000 megawatts of the power fa­cil­ity al­lo­cated to the IDZ.

The his­toric R11bn Baic project was an­nounced last year and would largely be funded by Baic and the In­dus­trial De­vel­op­ment Cor­po­ra­tion. It was mooted as China’s big­gest au­to­mo­tive in­vest­ment in Africa over the last 40 years.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.