Coega welcomes 2015/16 EC Provincial Budget

MARCH 6, 2015

The Coega Development Corporation (CDC) has been allocated R185-million for the 2015/16 financial year for social infrastructure programmes and R669.25-million over the 2015 Medium Term Expenditure Framework (MTEF), the Eastern Cape MEC for Finance Sakhumzi Somyo, announced today in Bhisho as part of his 2015/16 Provincial Budget.

The total provincial infrastructure budget amounts to R7.8-billion.

“We welcome the budget allocation. It will help with the delivering of turn-key socio-economic projects that empower government, private sector and communities through industrial and infrastructure development,” commented Dr Ayanda Vilakazi, CDC head of marketing and communication.  

“Major social and economic infrastructure projects impacting Coega in the medium- to long-term, which were outlined in the National Treasury Budget Review earlier last month, include PetroSA’s oil refinery, Project Mthombo, and the manganese terminal with rail infrastructure to be upgraded by Transnet,” he added.

“The provincial endorsement of the national, macro approach today is encouraging and we are pleased to be primed to deliver turnkey infrastructure programmes across the province.”

The Eastern Cape Premier Masualle Phumulo in his State of the Province address, said the provincial focus over the medium term will be on education and health, social security and cohesion, inclusive economic growth and job creation, investment in agriculture development, supporting infrastructure delivery, governance and accountability.

“The budget is certainly aligned with the Premier’s speech earlier this year. With over fifteen  years’ experience in rolling out major infrastructure projects both within the Coega IDZ and also in the Eastern Cape and KwaZulu-Natal through roads, schools, and hospital and clinic projects, we believe Coega is the ideal partner to walk with the province to deliver on critical projects that will unlock economic growth,” Dr Vilakazi concluded.