The East London IDZ has started diversifying away from the automotive industry, on which it has been reliant. It has announces seven new investors, including Matla Solar Therma (alternative energy sector), Espadon Marine, Murray and Roberts, Sunningdale Dairies, Cast Arena Trade and Investment Holdings, Aquarius Tyre and Mercedes Benz South Africa. With a combined R239 million investment value, these investments mark the diversification of the zone, as the new investors operate in the aquaculture, agro-processing and general manufacturing sectors, according to East London IDZ CEO Simphiwe Kondlo. The investments take the total investment in the zone to R1.15 billion and the number of confirmed investors increases from 14 to 21. “The current economic climate has provided a lot of challenges in our endeavours to attract investment into the zone. This new investment is a further indication that there is an increasing confidence by our targeted investors in the investment solutions that we are providing them with,” he says.
ELIDZ signs on seven new investors
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