The seven major vehicle manufacturers in South Africa and a number of specialist truck producers will spend a projected R7.9 billion this year.
The National Association of Automobile Manufacturers of South Africa said in a statement that capital expenditure in the area of product, local content, export investment and production facilities is projected to reach R7.9 billion this year, almost double the figure from last year.
Companies are projected to spend R295.2 million on land and buildings this year and R427.1 million on support infrastructure, which includes IT.
Naamsa says the relatively high levels of cap - ex in recent years can be attributed largely to investment projects linked to the Automotive Production and Development Program
Meanwhile:
Nelson Mandela Bay has set a target of securing investment of R1 billion by 2016.
That's according to the Draft Integrated Development Plan 2014 that will be put before Council for approval on Thursday.
(Source: Metro Minute to subscribe mail metminutes@iafrica.com)
