Main Website
  Events
  Views & Forecasting
  South Africa Biz Forums

   Global Business      South Africa Business      UK Business      Ireland Business      Views and Forecasting

Saldanha Bay attracts investment

Saldanha Bay

Saldanha Bay

The recently launched Industrial Development Zone in Saldanha Bay, a harbour town situated on the south-western coast of South Africa, is already drawing investment interest.

In a statement on Thursday, Alan Winde, the Western Cape’s Minister of Finance, Economic Development and Tourism, said the signing of several lease agreements and the upsurge of global oil and gas companies negotiating joint ventures with South African firms was an indication that the zone was off to a good start.

Saldanha Bay industrial zone attracting investment

“The Saldanha Bay IDZ Licencing Company has signed six lease agreements with international and South African oil and gas companies. These include firms specialising in oilfield services, oil rig operations, logistics operators, ship repair, engineering and market support,” he said.

“In some of the most exciting developments, the Licencing Company is in talks with an international consortium to develop a rig module building facility.

“We are also aware of a R200 million investment by a global oil servicing company which is set to create 300 jobs.”

He said several leading international companies were increasing their staff numbers in their South African companies.

Winde said the Western Cape provincial government invested R25-million over a period of five years to create the zone.

“This is the culmination of years of collaboration between all spheres of government and the Saldanha Bay community.

“The IDZ has the potential to become one of the most important levers for jobs and economic growth for the Western Cape.

“Early indications are that it will indeed be a major catalyst for foreign direct investment and increased employment opportunities for our residents in the medium to long term.” – SANews.gov.za

Speak Your Mind

*