Ricochet News

Company gets Cabinet nod to build yachts in Port Elizabeth harbour

SEPTEMBER 11, 2015
Company gets Cabinet nod to build yachts in Port Elizabeth harbour

Transport Minister, Dipuo Peters, on Thursday announced that she had received the nod from Cabinet on her recommendation to provide an urgent lease agreement to Tag Yachts Ltd, which intends to build yachts in the Port Elizabeth Harbour.

Cabinet approved the recommendation by the Minister of Transport  to provide urgent lease agreement to the Tag Yachts (PTY) Ltd," Cabinet also said in a statement.

"Its objective is to initiate manufacturing of high-end composite catamarans in the Port Elizabeth Habour.  This is to effect the assigned responsibility for the marine manufacturing Delivery Unit under the Operation Phakisa initiatives to establish a composite Boat-Building Cluster in the Eastern Cape. 

"The approval is in terms of  Urgent  Section 57 of the National Ports Act, 2005 (Act 12 of 2005).

Operation Phakisa is an innovative approach that enables government and key stakeholders to transform high level plans into detailed implementation programmes to fast-track delivery of results.

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

Image: Tag yachts via Facebook.