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AfricaMoney | August 17, 2017

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Coega exceeds jobs target

Coega exceeds jobs target

The Coega Development Cooperation (CDC), South Africa, has exceeded its jobs target by creating 13 596 direct and indirect jobs in the 2012/13 financial year, the state-owned company said recently.

It also trained 13 607 people, attracted a total of eight new investors and increased self-generated revenue through external projects and services to the tune of R290 million.

This follows an announcement in June that building projects at the Coega Industrial Development Zone (IDZ), outside Port Elizabeth, have injected over R1.2 billion into the Eastern Cape construction industry since the beginning of the year. Over 2 500 jobs were created during this period.

The company says preliminary results for the past financial year show that the organisation is building on solid growth over the past three years, attracting major investment.

“It has indeed been a good year for the organisation,” said spokesperson Ayanda Vilakazi in a statement.

“Of course, we tend to want to aim higher and not risk complacency, but it is good to celebrate and our performance results are notable, considering rising electrical costs and persistent global economic instability,” he said.

Meanwhile, Coega said construction on-site at First Automobile Works’ (FAW) truck assembly plant is proceeding at a satisfactory pace, with August set to be the “month of milestones” according to lead contractor, WBHO Construction’s Eastern Cape managing director, Arnie van Jaarsveldt.

“The pits are almost complete – a milestone which will allow for the casting of the concrete floors after the installation of the plant machinery,” said Van Jaarsveldt.

She said probably the most exciting two milestones, however, were the arrival of two of the seven overhead cranes, which will be installed inside the plant; and the fact that by mid-August, the top structures will be complete and the shell of the building will be completely enclosed.

A 50-strong installation crew will also arrive from China in August for the installation of the plant machinery to the pits, followed by the testing and commissioning phase.

The Chinese vehicle manufacturer, which has invested R600 million into its new plant, is the first foreign direct investment into the Coega IDZ and it is hoped both by FAW and the CDC that other international and national first, second and third tier suppliers will follow suite and invest in the Coega IDZ’s automotive and logistics cluster.

Image Source: www.nmbbusinesschamber.co.za

Source: SAnews.gov.za 

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