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Johannesburg - The Coega Development Corporation (CDC) will
launch a dairy processing plant with an initial investment of R50m in
September, it said on Wednesday.
It said Coega Dairy, owned by Coega Milk Producers
Organisation (CDMPO), will initially invest about R50m to tool and operate the
plant. The CDMPO is owned by 13 commercial dairy farmers.
The business operations would take place in a building in
Zone 3 of the Coega Industrial Development Zone, which is situated outside Port
Elizabeth.
It would create 754 indirect jobs, 200 farm jobs, 70
operational jobs and 50 construction jobs, the CDC said.
"By the end of 2013, the investment would have grown to
R150m. The company is currently raising finance for a 40% equity stake for
their empowerment partners."
The shareholding would be modified in 2012 to include the
Coega Empowerment Trust, a body which would include previously disadvantaged
commercial dairy projects, black factory employees of Coega Dairy, and dairy
farm labourers.
The CDC said the processing plant would consume 50% less
water, energy and chemicals than other plants.