The Coega Development Corporation (CDC) is optimistic that this year will highlight the Coega Industrial Development Zone (IDZ) as a prime investment destination.
CDC marketing and communications head Dr Ayanda Vilakazi says there are currently six projects under construction within the IDZ and that five of these are expected to become operational by the end of the 2016/17 financial year.
“Five hundred and fifty-five people are currently contracted on the projects in the IDZ, 70% of whom are Nelson Mandela Bay-based residents.”
The CDC had 36 operational investors with a combined investment value of R6-billion.
Construction of automotive company Beijing Automotive Group’s R11-billion automotive manufacturing plant will take place this year, as well as the implementation of energy-related projects falling under the Department of Energy's gas-to-power programme with 1 000 MW of the power facility allocated to the Coega IDZ.