Without a shadow of a doubt, KwaZulu-Natal remains a safe haven for investment.
Below statement by the MEC for Economic Development, Tourism and Environmental Affairs Nomusa Dube-Ncube
It is with a sense of great pride and new optimism that today I welcome billions worth of investment in KwaZulu-Natal.
The Chief Executive Officer of Metair – Theo Loock has announced that his company has identified this province for the construction of an automotive manufacturing plant.
According to the CEO, Metair has secured multiple contracts from Ford Motor Company of Southern Africa (FMCSA) as the local arm of the US vehicle maker prepares to launch new vehicles for the local and export markets.
The new launches form part of a fresh investment and production expansion programme at Ford to meet the demands of the company’s growing export-driven business in South Africa.
Metair is a manufacturer, distributor and retailer of energy storage solutions and automotive components.
The CEO added that the total funding requirements were estimated at R1.3bn for Metair, while more than R900m would be invested in property, plant and equipment.
This included construction of a new manufacturing facility in KwaDukuza (Stanger) in northern KwaZulu-Natal.
More than 3300 jobs are expected to be created – with the largest portion in this province.
One can never over-emphasise the contribution that has been made by the motor-car industry to our economy.
Broadly speaking, this investment will help to increase the of the automotive industry’s contribution towards the South Africa’s Gross Domestic.
The automotive industry’s contribution to GDP takes account of the value addition in the broadly defined automotive sector and covers vehicle retail, distribution and servicing, auto parts production and vehicle production (including exports).
Critically, as the department, we are working with the department of Transport, Community Safety and Liaison, eThekwini Municipality and the national government to ensure that automotive sector becomes catalyst for economic development and job creation.
COVID-19 is propelling us to move with speed to ensure that our Automotive Supplier Park Special Economic Zone, located in the South of Durban, is operational in 2021. More than 1339 jobs are expected to be created through an investment of R2.2 billion.
A collaboration between the municipality and our entity – the Dube Trade Port has resulted in the acquisition of 1000 hectares of land for the establishment of this Automotive Supplier Park.
Once the country moves to Level 1, we will ensure that we have an interaction with all role players in ILembe and eThekwini municipality where this manufacturing plant and Automotive Supplier Park will be developed respectively. We want local communities to benefit from the entire development.