By SABELO NDLANGISA
In Port Elizabeth
THE Coega Industrial Development Zone yesterday officially signed its 10th investor, which is expected to create about 250 permanent jobs.
The Singaporean chlorine manufacturing and water desalination company Straits Chemicals is investing R5,8 billion in its Coega plant, which is expected to be constructed in two years’ time.
Once running, it is expected to churn out 600 tons of chlorine a day for local and international markets.
This brings the total value of investment attracted by the Port Elizabeth-based IDZ so far to R20,8bn.
Straits Chemicals executive chairperson Eric Lim yesterday said the company had invested in South Africa because “the education is wonderful, weather is great, and the economic incentives are there …”
“The most critical thing is that we are able to value add to all the rich raw materials that SA has got.”
Lim dismissed any concerns about safety or negative impact on the environment, saying the company had been in business for 50 years in a “highly regulated environment and had never had an accident”.
“We hope to transfer that safety record to South Africa.”
He said the company would be run by local managers who would train for six months in Singapore before operations start, adding that a “sprinkling of Singaporeans” would help the business take off.
Singapore President Sellapan Ramanathan, who unveiled the company’s plaque at Coega, said the investment was the beginning of Singapore’s efforts to take up business opportunities in SA.
Ramanathan was accompanied by a delegation of businesspeople, who will explore opportunities in sectors such as energy, the automotive industry, fishing, and property development.
Coega spokesperson Vuyelwa Qinga-Vika said the investment would contribute in changing the province’s economic landscape.
“This is proof the Coega IDZ is establishing itself as the preferred investment destination on a global scale, and will play a key role in contributing to changing the economy of the Eastern Cape,” she said.