Attract investors to Coega, says mayor

Posted On Tuesday, 10 May 2005 02:00 Published by eProp Commercial Property News
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AN EASTERN Cape politician has expressed grave concern at the failure of Coega industrial development zone to attract any investments to date.

Property-Housing-ResidentialMandela Metro deputy Executive Mayor Bicks Ndoni said at the weekend that the lack of investment was a "real concern", and called for special efforts to be made to attract investors.

His comments come ahead of Canadian company Alcan’s imminent decision on the mooted multibillion-rand development of an aluminium smelter at the site.

Alcan was expected to say more, after the release of its financial results late yesterday, about a feasibility study into the project, which could see as much as $2,2bn invested in SA.

Government was spending more than R7bn to develop the site.

"We expected that great strides in this regard would have been made three years ago already and that sustainable jobs would have been created," said Ndoni.

Instead, hundreds of workers face an uncertain future as construction of infrastructure at the industrial development zone and neighbouring harbour winds down.

Ndoni said it was a major challenge for the Metro to create sustainable employment because no permanent jobs could be offered at Coega yet.

Coega Development Company CE Pepi Silinga recently said the corporation was involved in discussions with German steelmaker MAN Ferrostaal on possible investments in Coega.

Last modified on Thursday, 26 June 2014 10:51

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