The Coega Industrial Development Zone (IDZ) expects to end the current financial year “well ahead” of target in terms of attracting new investors.
According to a statement by the Coega Development Corporation (CDC), 13 new investors have been signed since April 2016 – against a target of seven – bringing the total investment value to R10.672 billion above target.
CDC head of marketing and communications, Ayanda Vilakazi, added that there were six more projects in the pipeline that could possibly be signed by the end of the financial year.
“Not only will this translate into 6231 direct jobs over the short to medium term, it also reflects the diversification of the Eastern Cape economy,” said Vilakazi.
He added that the CDC had observed a trend that investors were not largely from the automotive sector and current major investors included logistics operators, pharmaceutical firms and agro-processors.
Vilakazi noted that a number of shipping and logistics-related investments in the IDZ were related to the growth of the Port of Ngqura.
