Dube to draw R18bn in investments
Phase 2 of tradeport development ‘augurs well for province’s growth’, says MEC
THE DUBE Tradeport’s phase two is set to attract R18 billion in investments in the next five years.
KZN economic development, tourism and environmental affairs MEC Sihle Zikalala said this expansion plan augured well for the province’s growth.
“This mega-development brings an additional 45ha of prime industrial land and is expected to generate R18bn within the SEZ (special economic zone) over the next five years,” he said.
The MEC was speaking during a tour of Dube Tradeport this week.
“Phase two offers immense opportunities in sectors such as electronics and aeronautical services such as aircraft maintenance, aircraft repair, overhaul, fixed-base operations and executive aerospace.”
The second phase was seen as another milestone in the evolution of the province’s flagship multibillionrand investment anchored to King Shaka International Airport set to change the urban economic landscape of Kwazulu-natal. The expansion is set to create hundreds of jobs.
The MEC said this investment came on the back of other investments. The provincial government recently announced that the province had amassed business prospects worth more than R200bn.
Zikalala has described the entity’s phase one as a resounding success as it was fully occupied by topnotch companies. “To date, the first phase has been able to create more than 12000 job opportunities while attracting R3.2bn in private sector investment,” he said.
President Cyril Ramaphosa and other ministers would unveil the state-of-the-art cellphonemanufacturing plant in the near future.
He said the Mara Group had signed a lease agreement with Dube Tradeport and it was proceeding with its plans to invest R1.5bn in Africa’s first fully-fledged smartphone factory.
Zikalala said Durban Aerotropolis was poised to enhance urban and national competitiveness through improved multimodal transport access and planned, co-ordinated, aviationlinked commercial development.
“We want investors to benefit from the incentives of the special economic zone and to take advantage of the green field space to develop a globally competitive KZN,” he said.