Fin24 reports that a total of R2.6bn new investments have been signed at the Coega Special Economic Zone, with expectations that they would create more than 2,000 jobs.  

The Coega Development Corporation (CDC) on Thursday announced it had secured an additional 18 investors for the 2018/19 financial year for the economic zone located in Nelson Mandela Bay.  Of the total investments, R1bn has been sourced from the private sector, while 18% originate from China.  The total investment of R2.6bn far exceeds the target of R693m.  "Based on the new investments signed in the past financial year, our conservative estimations are that in excess of 2,073 jobs will be created," said Dr Ayanda Vilakazi, head of the CDC marketing, brand and corporate communications.  These new jobs will be in addition to the 7,815 persons who working at the special economic zone on a daily basis.  The largest share of investments, R848m, were committed to Coega's aquaculture development zone.  The private sector aquaculture investment projects include an abalone farm and a land-based aquaculture farming facility.

• Read the full original of Lameez Omarjee’s report in the above regard at Fin24

Get other news reports at the SA Labour News home page