The Coega Development Corporation has 10 projects in the pipeline that could lead to investments worth R287 billion and free the Eastern Cape from its dependence on the automotive industry.The 10 projects comprise two abalone farms; a maize-processing and grain-milling plant; an animal feed facility; a renewable energy components factory; a gas-to-power plant; a solar rooftop project; a stainless steel strip mill; a stainless steel smelter; and Project Mthombo, an oil refinery.
The smelter is forecast to create 30 000 jobs during construction and 4 500 when operational. It will be built by Lamergyre Stainless Steel, a local company with consortium partners. Given Eskom’s power supply problems, plans are under way for the smelter to install its own combined cycle gas turbines, a seawater desalination plant and its own liquefied natural gas tank farm.
While part of the funding will be sourced from the Automotive Incentive Scheme and the Public Investment Corporation, 50% of funds have been secured from the Industrial Development Corporation. The department of trade and industry is expected to fund Project Mthombo, the two abalone farms and the animal feed production plant.
The grain-milling project will create 100 jobs during construction and 160 jobs when operational. It will be implemented by NewCo Milling. Production starts next year.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold slips away from 10-month high after Fed’s minutesThe metal is under pressure from a firmer dollar, which perked up after Fed minutes rekindle the expectation of another rate increase in 2019
Source: BDliveSA - 🏆 12. / 63 Read more »
Over 10 000 sign #HandsOffCaster petitionOver 10 000 people have signed an online petition in support of South African runner Caster Semenya. Sport24news They need to back off! let Caster have peace. Sport24news Fortunately the IOC and IAAF dont care about pc culture and will only look at scientific biological facts. Sport24news Is there still a space for additional signatures?
Source: News24 - 🏆 4. / 80 Read more »
10 apps every South African should haveApps for safety, commuting, load shedding and moving house. These are the 10 apps every South African should be using: Funny, that. I've asked NamolaApp half a dozen times where in SA their app works, no response 🙄 Welcome to service, SA style. So, guess what ?
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Mboweni: 'Support for Eskom could reach R230bn over 10 years'This amount is far higher than the R69 billion over the next three years that the Finance Minister announced in his Budget speech yesterday. Our tax money..y not let the criminals thats working for Eskom get arested and pay back the money!!! Our Tax money been wasted in the past ,watch how that's so increase in a short space
Source: ewnupdates - 🏆 30. / 53 Read more »
Newsdeck: Buhari Extends Lead, Winning 10 States: Nigerian Election UpdateNigerian President Muhammadu Buhari maintained his lead over his main rival, Atiku Abubakar, with results declared in 15 of the West African nation’s 36 states and the Federal Capital Territory after Saturday’s general election.
Source: dailymaverick - 🏆 3. / 84 Read more »
Children as young as 10 can be charged for bullying - expertChildren as young as 10 could be held criminally liable for bullying if it is found beyond reasonable doubt that they were aware of their actions and consequences. Sesona_Ngqaks Fvck them kids Sesona_Ngqaks Sesona_Ngqaks So new laws that will send kids to jail are being formulated, instead of formulating solutions that will build the kids and help them better deal with the anger issues...
Source: News24 - 🏆 4. / 80 Read more »
World's best beaches: did SA crack the nod?Brazil has bagged bragging rights to being home to the best beach on the planet.
Source: TimesLIVE - 🏆 28. / 59 Read more »
10 die, 6 hurt in illegal firecracker factory in north India | IOL NewsOfficials say 10 people have died in an explosion at a house in northern India where firecrackers were being illegally manufactured. made in india shit
Source: IOL - 🏆 46. / 51 Read more »
R. Kelly charged with 10 counts of sex abuse: officialThe singer was charged in Cook County with 10 counts of aggravated sexual abuse, the Chicago Sun-Times reported, citing court records. Chocolate factory.. He wishes he could turn back the hand of time Ninja might be going to jail soon. Long overdue.
Source: eNCA - 🏆 49. / 51 Read more »
R&B star R. Kelly charged with 10 counts of sex abuseThe embattled singer - dogged for decades by sexual abuse allegations involving underage women - has a court date scheduled for 8 March in Chicago Finally! Hope he will spend a long time in jail.
Source: ewnupdates - 🏆 30. / 53 Read more »