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Over R1 billion worth of investment projects ready for implementation at Coega

APRIL 5, 2017
Over R1 billion worth of investment projects ready for implementation at Coega

Advancing Economic Transformation in the Metals and Manufacturing Sector 

The Coega Development Corporation (CDC) announced on Wednesday that investment projects worth over R1 billion are ready for implementation in the Coega IDZ, from April 2017.

This announcement follows the unaudited results of what has been another successful Financial Year for the organization in which the CDC proved its fortitude as a leader in investment attraction by securing a total of 16 investors with a combined investment value of R11.7 billion.

“The metals and manufacturing industrial sector of the Coega IDZ will soon roll out three investment projects, with the first project’s site handover planned for April 2017,” says Sadick Davids, CDC Business Development Manager - Metal and Manufacturing.

The following are the three investment projects currently in the process of implementation:

  • a R650 million manufacturing cement grinding Plant,
  • a R71 million ready mix concrete Plant, and
  • a R350 million Gas Cylinder Plant.

Some of the aforementioned investment projects are owned by the previously disadvantaged people, particularly women.  Therefore, the CDC is proud to be amongst government institutions who continue to support programmes that contribute towards industrialization and economic transformation of the people that come from previously marginalised communities,” adds Davids.

The Coega IDZ’s metals and manufacturing sector has grown in stature. The aforementioned investment projects will ascend the CDC to new heights, as a catalyst for championing of the socio-economic development in the Eastern Cape and South Africa at large.  They would accumulatively see over 401 direct jobs created and 2472 construction jobs.

Dr Ayanda Vilakazi, CDC unit head marketing and communications said that the implementation of these investment projects is evidence of the CDC’s commitment to advancing the socio-economic development of the EC province. 

CDC has, through all its investment projects in the IDZ and Infrastructure Development Programmes, created in the past 8 years a total of more than 83 405 jobs. However, it is projected that the organisation would for the first time in 16 years since inception exceeds 100, 000 jobs by the end of the 2016/17 financial year.