Eastern countries express interest in Coega

COMPANIES FROM India and China have expressed interest in the Coega IDZ, according to the Coega Development Corporation (CDC). The total value of investment projects being negotiated between the CDC and Indian companies is over R16 billion for the metals and automotive sectors, says business development manager Belu Mabandla. Coega, which is not commenting on the effects of the power crisis on the development of the zone, says three investments are on the cards for the 2008/09 financial year. Chinese investors are considering industrial estates for greenfield projects and mergers. CDC business development manager, Christopher Mashigo, says Chinese companies are planning four to six visits to the site during 2008 to hold discussions over a project in the automotive zone.