THE Coega Development Corporation (CDC) is bullish about 2018, a year in which it is anticipating the completion of investment projects valued in excess of R12 billion.
The projects include Osho Cement – R600 million; Customs Control Area (in the logistics sector); Beijing Automobile International Corporation (BAIC SA) – R11 billion; Hella (Automotive investment in the CDC Logistics Park) – R53.3 million and MM Engineering – R350 million.
“We are encouraged by the improved business confidence this year and are optimistic it will translate into future business prospects,” said Dr Ayanda Vilakazi, CDC Unit head of Marketing, Brand and Corporate Communications.
Heading into the latter part of the 2017/18 financial year (FY), the CDC forecast that it would sign up a minimum of 12 investors, with projected additional jobs of 675. Some of the targeted investment sectors include automotive, agro-processing and chemicals, to mention a few.
“Casting our gaze back to last year, the Coega SEZ saw the successful completion of five projects – Kenako Concrete, Corromaster, National Ship Chandlers, Sanitech and FinCorp valued at R180 million,” Vilakazi said. “Furthermore, on the jobs front, the CDC as of year to date in the FY2017/18 has secured no fewer than 9441 additional construction jobs and realised 7953 cumulative operational jobs. The organisation has also ensured that it has its sights set on skills development, through training over 2716 people in the current FY.”