Presenting the report, Niels Anderson cautioned that if the port did not maintain world class standards, industry and economic growth in the region would be seriously affected.
The result would be almost certain economic dedilne.
A lack of expansion might result in disinvestment of companies in the automotive sector and various other importers and exporters. The expansion of the port would result in 58 355 new jobs, which would be created in the bio-fuels, automotive, agroprocessing and manufacturing industries, he said.
Speaking on behalf of Buffalo City mayor, Zintle Peter, spokesman Sizwe Dikimolo fully backed the reports findings.
Anderson, who was speak-
ing on behalf of various stakeholders that include Daimler-Chrysler, Safmarine and the Eastern Cape Development Corporation, also warned that failing to invest in the port would erode the manufacturing base and put 16 512 jobs at risk. The ports major constraint is that its 1O,5m draft is too shallow. It also has no dockside gantries and restricted handung space. Modern ships require a draft of at least 12m.