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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 23 2012 22:00
Economic liberation or the lack thereof is the most divisive issue in the country, according to a survey.
Johannesburg - A total of 2 530 people will be employed between July 2008 and mid 2010 due to new investments at Coega, the Coega Development Corporation (CDC), said on Monday
Six auto component manufacturers were in the process of concluding investment deals worth more than R1bn with the CDC, it said in a statement.
"The positive impact of these developments to the economy of the Eastern Cape will be huge. They will bring dramatic shifts in people's lives in the metro and in the province much quicker than often expected," said CDC spokesperson Senzeni Ndebele.
The factories would be located in the Nelson Mandela Bay Logistics Park (NMBLP) in Uitenhage. The investment would increase the total number of investors operational in the park to nine by March next year.
"That will be outstanding performance in the auto sector in the region," the CDC said.
This follows a takeover of the park by the CDC in collaboration with the Nelson Mandela Bay Municipality (NMBM) in a 50-year lease agreement between the two parties.
The Coega Development Corporation is now responsible for the management and further development of the automotive supplier park in close co-operation with all relevant stakeholders.
The CDC added that it was in serious negotiations with Indian and Chinese companies who had expressed interest in bringing at least two original equipment manufacturers (OEMs) to South Africa.
A massive automotive contract manufacturing facility was also on the drawing board for zone two of the Coega Industrial Development Zone as part of the CDC's strategy to enhance the metro's competitiveness and in attracting companies to enhance the auto cluster.
- Sapa