VIP day for R700m Coega projects

FIRED UP: The Agni Steels mill is ready to fire up its furnaces at Coega this month. Once operational, the mill will operate day and night
FIRED UP: The Agni Steels mill is ready to fire up its furnaces at Coega this month. Once operational, the mill will operate day and night

TWO government ministers will visit Coega this weekend to commission R700-million worth of investments.

The projects are the DCD wind tower facility and the Agni Steels mill, which are major energy and metals sector developments in the Coega Industrial Development Zone (IDZ).

Trade and Industry Minister Rob Davies and Energy Minister Dikobe Ben Martins will launch the commissioning phase of the two investor projects on Sunday.

Coega Development Corporation (CDC) head of marketing and communications Ayanda Vilakazi says the commissioning of the projects are the coming to fruition of key government policy mandates and interventions.

They also showed the commitment of Eastern Cape Economic Development, Environmental Affairs and Tourism MEC Mcebisi Jonas.

“The CDC is priming itself for transition from IDZ to Special Economic Zone (SEZ),” Vilakazi said.

“Given positive investment attraction trends over the past three years, we are set to enter the SEZ environment with a clear advantage and head start because of our significant achievements.” Construction work on the R300-million wind tower manufacturing facility began in May last year.

It started producing towers this month and is expected to create close to 200 jobs, and produce between 110 and 120 wind towers a year.

Agni Steels SA, which also started operating this month, has invested R400-million in a hi-tech smelting facility to produce mild steel billets from scrap metal.

The plant is producing for export to India and other African countries during the first phase of the project. – Business Reporter

 

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