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News Article - Metal
R130-million for Industrial Development Zones
Posted on: Friday, 08 March 2002. Article source: Eastern Cape Business News
THE EASTERN Cape government has budgeted R130-million to assist the province’s two industrial development zones. The zones are at Coega outside Port Elizabeth, and on East London harbour’s west bank. A further boost to the province’s transport infrastructure is the allocation of R44-milion to resuscitated the rail link between East London and Umtata by the beginning of 2004. This announcement was made by economic affairs, environment and tourism MEC Enoch Godongwana in his budget speech. Godongwana says R80-million has been budgeted for Coega following the signing of by President Thabo Mbeki of the proclamation for the Port of Ngqura on January 23 following the designation of an industrial development zone (IDZ) at Coega at the end of last year. Subsequently, a provisional operator’s permit was granted to the Coega Development Corporation (CDC). Godongwana said that in order to "consolidate the operation of the IDZ", the provincial government had made R80-million available as part of the commitment given in the 2001 budget. The MEC also announced R50m would be made available for the East London IDZ, saying that confirmation of its designation as an IDZ was expected "soon". More work would be done "to make the IDZ operational" during the next financial year. The MEC said investment in capital infrastructure had grown by 37 per cent to R2,3billion in the next financial year. This figure would rise to R3,5bn in 2004/5. An amount of R616-million has been allocated to improvements to the roads network in the next financial year. This is almost 50 per cent more than 2001.
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