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Moneyweb reports that automotive components and energy storage solutions manufacturer Metair Investments is to create more than 3,000 new jobs in SA this year through a major investment in a new project for Ford SA.
Metair reported on Thursday that capital expenditure of R1.6 billion had been approved for its current financial year and a further R272 million for the first half of 2021. Chief financial officer Sjoerd Douwenga said the capital expenditure in land and plant and equipment for Hesto Harnesses for the Ford projects totaled about R1.1 billion and would be split over three years. There would be further investment in working capital into Hesto Harnesses next year of R300-400 million. Metair CEO Riaz Haffejee said they were developing two buildings related to the Ford project – one of which was in Stanger (KwaZulu-Natal) for Hesto Harnesses because its existing building was full. He added that this facility, which was almost complete, would employ 3,000 additional people between now and the end of the year. Haffejee said Metair was also developing a building in the Tshwane Automotive Special Economic Zone (TASEZ) next to Ford SA’s production plant in Silverton in Pretoria, which would create under 100 new jobs.
- Read the full original of the report in the above regard by Roy Cokayne at Moneyweb
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