Building projects at the Coega Industrial Development Zone outside Port Elizabeth have injected over R1.2-billion into South Africa’s Eastern Cape construction industry over the past two quarters, in the process creating over 2 500 jobs, the state-owned Coega Development Corporation (CDC) said last week.
Six major construction projects are currently under way in the Coega IDZ, including Chinese auto maker First Automobile Works’ new R200-million plant, food service group Famous Brands Famous Brands’ new cold storage plant, DCD Group’s wind tower manufacturing plant, the addition of Coega Cheese onto the Coega Dairy outfit, Agni Steels’ R400-million smelter facility, and Rehau’s extension in the Nelson Mandela Bay Logistics Park.
Industrial gas company Air Products South Africa is also about to begin construction of a R300-million state-of-the-art air separation unit in July, bringing the total number of projects being built to seven.
“The global economic climate is still not stable, yet investment continues to flow into the Coega IDZ,” CDC spokesperson Ayanda Vilakazi said in a statement. “We currently have 20 operational investors, and once these seven construction projects are complete, we will be up to 27 operational investors by mid-2014.”
Vilakazi said the Famous Brands project, which was nearest completion, was a prime example of the short conversion times between signing a lease to full operation at Coega.
“The turnaround times are much quicker now than they were a couple of years ago, and we are able to construct buildings for investors relatively quickly, meaning that they move to operational phase
Read More Here: http://allafrica.com/stories/201306190897.html