Tag Yachts welcomes granting of Port Elizabeth Harbour lease


Tag Yachts Ltd on Friday welcomed the decision by Cabinet on Thursday to approve Transport Minister, Dipuo Peters’, recommendation that it be granted an urgent lease agreement for its proposed Port Elizabeth Harbour factory, where it intends to build high-performance yachts in the Port Elizabeth Harbour.

Tim van der Steene, Tag Yachts CEO, told RNews; “TAG Yachts is very excited about the opportunity to expand in to the Port Elizabeth Harbour and this gives us the opportunity to develop a world-class facility to build world class yachts.

“The benefit to the Boatbuilding and Composite industry as well as Port Elizabeth, the Eastern Cape and South Africa is very positive and a sign that we as a country want to be part of the fastest growing industry sector worldwide – namely, Composites.”

He said that the facility is expected to start operations by the second quarter of 2016 and that, besides being a huge economic boost for the Bay, it is expected to create between 400-500 jobs over a period of five years.

“The benefit will be not only the establishment of a new yacht building facility, but also a number of supporting businesses in the supply chain. We also hope that other manufacturers will come to Port Elizabeth. On the whole, a very positive benefit on many levels for growth, development and revitalisation of Port Elizabeth,” described Van der Steene.

He, however, said that there was a huge shortage of qualified staff, which all stakeholders on the project were hoping to address.

According to Van der Steene, most of the yachts built at the PE Harbour facility will be primarily for export to the United State of America, Europe and the Australasia region. However, local sailors were also showing great interest.

Tag Yachts, which was established in 2007, is currently situated at St Francis Bay, where it builds high performance cruising catamarans.

“We would like to thank all the parties involved in making this a reality,” concluded Van der Steene.

Image: Tag yachts via Facebook.