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The Department of Trade and Industry has approved 62 projects worth billions of rands in the Eastern Cape in terms of the Automotive Investment Scheme.
Metro Minute reports that this is the highest number of projects approved in any province.
The Automotive Investment Scheme is an incentive programme designed "to grow and develop the automotive sector through investment in new and/or replacement models.
Trade and Industry figures show that since the inception of the automotive investment scheme in July 2009 to the end of the 2012/2013 financial year, investments to the tune of R6.1 billion were secured in the Eastern Cape.
(Source: Metro Minute to subscribe mail metminutes@iafrica.com)
