The Coega Development Corporation (CDC) kicked off the new year poignant with enthusiasm as it awaits the completion of investment projects valued in excess of R12 billion.
The projects include Osho Cement valued at R600 million, Customs Control Area which is in the logistics sector, Beijing Automobile International Corporation (BAIC SA) valued at R11 billion, Hella which is an automotive investment in the CDC Logistics Park valued at R53.3 million and MM Engineering valued at R350 million.
Heading into the latter part of the 2017/18 financial year, the CDC is looking to secure a minimum of 12 investors with 675 projected additional jobs. Some of the targeted investment sectors include automotive, agro-processing and chemicals just to mention a few.
“We are encouraged by the improved business confidence this year and are optimistic it would translate to future business prospects,” says Dr Ayanda Vilakazi, CDC Unit head of Marketing, Brand and Corporate Communications.
“Casting our gaze to last year, the Coega Special Economic Zone (SEZ) saw the successful completion of over five projects – Kenako Concrete, Corromaster, National Ship Chandlers, Sanitech and FinCorp valued at R180 million,” adds Dr Vilakazi.
According to Dr Vilakazi the CDC has secured no less than 9441 additional construction jobs and realised 7953 cumulative operational jobs to date. “The organisation has also ensured that it has its sights set on skills development, through training over 2716 people in the current FY,” highlights Dr Vilakazi.
“In 2018, the CDC will continue to be at the forefront of socio-economic development by creating jobs, infrastructure development and encourage skills development in the Nelson Mandela Metropolitan Municipality as well as other areas,” the CDC concludes.