Brics involvement paying off for KZN
KWAZULU-Natal Premier Willies Mchunu says the country’s involvement in the Brazil-Russia-India-China (Brics) grouping has led to billions of rand in investment in the province.
Mchunu was speaking during a sod-turning ceremony marking the beginning of the construction of a CS Smelter Park in Ladysmith yesterday.
He was joined at the event by Economic Development, Tourism and Environmental Affairs MEC, Sihle Zikalala, management of CS Smelter Park and investors from China.
The CS Smelter Park will have a privately owned coalfired power station that will be developed in three phases of 300 megawatts each.
Mchunu said: “As the provincial government we are excited that Phase 1 of this project will attract foreign direct investment of about R39.1 billion.”
“What is even more encouraging is that there is an estimated R30bn annual contribution towards the province’s gross domestic product.
“This will ensure we remain the second contributor towards the national gross domestic product behind Gauteng,” he said.
Mchunu said that more than 8 000 direct jobs would be created for the local community during the construction, and more than 12 000 indirect jobs would be created over a five-year period.
“This mammoth project gives this province a strategic asset and challenges us all to ensure that as a nation we derive the maximum benefits from it.”
He added that the project went well with the provincial government’s plan to ensure that energy becomes a tool for the eradication of poverty, inequality and unemployment.
“The importance of the energy supply sector lies both in improving the quality of life for the previously disadvantaged majority, as well as supporting large-scale industrial development.” – Mercury Reporter