*Coronavirus Update: MECs to welcome more than R3, 2 billion of investment today at Dube Trade Port*
_Media invite and statement by the MEC for Economic Development, Tourism and Environmental Affairs Nomusa Dube-Ncube._
04 September 2020
*Durban* : I extend an invitation to the members of the media to be part of a visit to the Dube Trade Port to welcome more than R3, 2 billion of foreign direct investment.
This morning - myself and MECs who are part of the Economic Sectors, Investment, Employment and Infrastructure Development (ESIEID) Cluster of the Executive Council of the provincial government will visit this economic zone as we usher in a new era of economic growth.
We will also visit the following sites:-
●SAMSUNG electronics giant with investment of R146 million and 129 jobs: Focus is on the manufacturing plant of new high-end Quantum Dot display television set and monitors. Refrigerators will also be manufactured and all will be supplied locally and exported;
●CHEM Energy Manufacturing plant with an Investment of R17 million – CHEM Energy is constructing a state of the art fuel cell factory at the Dube Tradeport. Ideally situated for import and export throughout Africa from Durban’s large seaport, this facility will produce the latest generation of fuel cell products, the G5, for backup and continuous (off grid) telecom power solutions.
It should be remembered that on Tuesday, I addressed the National Council of Provinces. During my address I affirmed our determination to turn COVID-19 into an opportunity.
Importantly I pointed out that last week, Wednesday – the Provincial Executive Council approved the Economic Reconstruction and Transformation Plan. This plan was also presented before the KZN Economic Council held last Friday.
I am on record stating that we view job creation as a primary means through which economic growth and quick recovery can occur.
We want to achieve this by distributing the benefits of economic growth more widely and consequently reducing dependency on the welfare system.
As we move forward, we expect an investment of more than R18 billion at the Dube Trade Port’s second phase of 45 hectares of prime industrial land. There are more than 40 operational business enterprises in the zone. Below is their sectoral distribution:
•Agriculture and Agro-processing - 20%
•ColdStorage - 5%
•Automotive - 5%
• Pharmaceuticals -5%
The investments will create an estimated 2342 direct jobs when they become operational.
Currently, there is a pipeline of 28 investments worth approximately R5. 6 billion that are at various stages of evaluation.
*ISSUED BY THE MEC FOR THE DEPARTMENT OF ECONOMIC DEVELOPMENT, TOURISM AND ENVIRONMENTAL AFFAIRS AND LEADER OF GOVERNMENT BUSINESS- NOMUSA DUBE-NCUBE*