EL SEZ
The Eastern Cape government has welcomed investments in the East London Special Economic Zone totalling R1.3 billion.
Premier, Oscar Mabuyane, welcomed the new investors, Thezi Langa, Bushveld Energy and RAM Hand-To-Hand Couriers to the SEZ, where the announcements were made on Thursday.
He said this marks a pivotal moment in the province’s journey towards economic prosperity and sustainability.
Mabuyane noted that the three companies are expected to create 1000 direct and indirect jobs in the province.
"These investments come at a critical juncture as government continues with its efforts to combat challenges such as load shedding, which have adversely affected the economy, particularly in the manufacturing industry," Mabuyane said.
According to Bhisho, Bushveld Energy Company, in partnership with the Industrial Development Corporation, will invest R400 million to establish local manufacturing capacity for vanadium-based electrolytes.
"This initiative aims to boost the province's competitiveness in innovative manufacturing and supply vanadium-based electrolyte to the global Vanadium Redox Flow Battery (VRFB) market.
"Thezi Langa (Pty) Ltd investment is a R920 million project aimed to develop a 50MW photovoltaic solar plant within the ELIDZ's Ntabozuko Precinct.
"The goal is to increase the independent energy generation capacity in the Eastern Cape and provide renewable energy to various sectors," the provincial government statement noted.
"Additionally, RAM Hand-to-Hand Couriers is investing R18 million to establish a hub within the ELIDZ, contributing to the logistics sector.
"This initiative is expected to create 50 direct jobs at the ELIDZ Hub and will enable RAM to handle shipments from around the country, facilitating collection and delivery services in East London and beyond."
"This influx of investment demonstrates the fertile ground for business in the Eastern Cape.
Recent developments such as the R100 million desalination water plant and the R4 billion investment to produce a new SUV by VW Africa Group in Kariega further solidify the province as a prime destination for investment," said Premier Mabuyane.
