A top level Chinese delegation of investors was in the city last week in search of investment opportunities in the Coega industrial development zone.
The visit to Nelson Mandela Bay took place just a few days ahead of next week’s sod turning ceremony by Chinese First Auto Works (FAW) for the R600m vehicle assembly plant in the industrial development zone.
Head of the Chinese delegation Zang Zho said the delegation had been impressed by what they saw in Coega. “A lot of influential business people wanted to be part of this delegation.
“We will share this experience with our counterparts with a view to bringing in further investment to Nelson Mandela Bay.”
About R200m of the Chinese investment would go to the construction of a state-of-the-art truck and passenger car manufacturing plant.
The investment is jointly funded by FAW and China-Africa Fund and will in the first phase generate 500 permanent jobs.
“FAW’s decision to build the plant in South Africa is significant as it will be one of the biggest manufacturing investments by a Chinese entity in this country so far,” Coega spokesperson Ayanda Vilakazi said.
Meanwhile, Mandela Bay metro mayor Zanoxolo Wayile has extended an invitation to the delegation to work with the municipality in the area of urban development and planning.
Another, still unnamed Chinese company, has committed to the construction of a ferro-manganese smelter in Coega.