PONL’s New reacts to ‘white elephant’ allegations
ALAN PEAT
THE SHIPPING function at the new port of Coega will not depend on the state of development of the industrial zone, according to Barry New, MD of P&O Nedlloyd Container Line, which has committed itself to developing the container terminal at the port.
This follows press comments that Coega might be turning into a white elephant, with no key tenants having yet committed.
Since 1996 three possible major tenants have nibbled at the bait for the industrial zone, but none have yet taken the hook.
The latest of these is the aluminium smelter proposed by the international aluminium giant, Alcan. But, since its Pechiney take-over, the project has not yet been confirmed.
“We still have a belief in Coega as a project,” said New.
But you have to separate the industrial zone and the shipping terminal, he added.
“The general belief is that the shipping terminal will flourish,” New told FTW.
“And the overall health of the port is not dependent on major contracts with the industrial zone, according to our calculations.”
