CT sets sights on ship repair 'cash cow'

The Port of Cape Town will
invest at least R 615million over
the next five years as part of
the ongoing Operation Phakisa
initiative.
Launched in 2014 by
President Jacob Zuma,
Operation Phakisa is intended
to take advantage of the
country’s oceans which could
generate an estimated GDP
contribution of R129-R177bn
by 2033.
Derived from Malaysia’s
Big Fast Results Methodology
which that country used
successfully to achieve rapid
economic transformation,
Operation Phakisa aims to
develop the oceans economy by
establishing marine transport
and manufacturing hubs and
developing the offshore oil and
gas industry.
Whilst the Port of Saldanha
has been earmarked for this
development, the Port of Cape
Town will see significant
investments in its ship repair
facilities, establishing it as
a major global player in the
marine engineering industry.
Port manager Sipho Nzuza
says the buoyant global market
for ship repair, conversion and
new builds supports investment
in the Cape Town facilities.
“There is a lack of capacity
to provide for the current local,
regional and global ship repair
and fabrication services, while
there have been repeated calls
by ship repair operators for
upgraded facilities to allow
South African business to
compete on a more equitable
basis,” he explains.
At least 30 000 vessels
pass through South Africa’s
waters every year. The country,
however, does maintenance on
only about 5% of these vessels.
“There is an opportunity
to gain significant foreign
revenue, to create more
employment opportunities and
to grow our ship repair industry
significantly,” said Nzuza.
He said at least R140
million would be invested
in the refurbishing and
rehabilitation of the Sturrock
dry dock at the port, while
another R60m would be
spent on Robinson dry dock.
Another R50m will be put
towards the refurbishment and
rehabilitation of the Synchrolift
and at least ten cranes for ship
repair will be replaced, at a cost
of R 365m.
Nzuza said the investment
into the port would
improve capacity at the
port significantly while at
the same time ensuring
economic growth.
INSERT & CAPTION
The buoyant global
market for ship
repair, conversion and
new builds supports
investment in the
Cape Town facilities.
– Sipho Nzuza
CAPTION
The Sturrock Dry Dock with a vessel in dock.