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Coega's Indian sub-continent trip pays off
Posted on: Thursday, 04 October 2007. Article source: Engineering News
Three major Indian companies have expressed an interest in investing in the Coega Industrial Development Zone (IDZ), the Coega Development Corporation (CDC) said.
The CDC last year started focusing on securing increased investment from the Indian sub-continent as companies from that region begin to expand their global footprint.
The CDC said that its business development manager, Belu Mabandla, and chemicals specialist, Duane Mouton, recently returned from a two-week long working trip to India and Thailand, where they met with 22 companies in the metals, chemicals and automotive sectors.
"Five of the companies showed an exceptional interest in locating to the IDZ," said Mabandla.
Of those, three were at a feasibility stage and would be making an investment decision as to their location of choice by the end of the next financial year, she said.
These companies were involved in producing duct lines, in auto parts production and in property development for the IDZ's services precinct.
The other two possible investors were a steel and foundry mill and an iron-ore pellet and ferromanganese plant.
"We're expecting visits by senior delegations from four of the companies by the end of the month. We'll then engage further on how the CDC can assist them in managing the process of locating to the IDZ," said Mabandla.
The CDC last year started focusing on securing increased investment from the Indian sub-continent as companies from that region begin to expand their global footprint.
The CDC said that its business development manager, Belu Mabandla, and chemicals specialist, Duane Mouton, recently returned from a two-week long working trip to India and Thailand, where they met with 22 companies in the metals, chemicals and automotive sectors.
"Five of the companies showed an exceptional interest in locating to the IDZ," said Mabandla.
Of those, three were at a feasibility stage and would be making an investment decision as to their location of choice by the end of the next financial year, she said.
These companies were involved in producing duct lines, in auto parts production and in property development for the IDZ's services precinct.
The other two possible investors were a steel and foundry mill and an iron-ore pellet and ferromanganese plant.
"We're expecting visits by senior delegations from four of the companies by the end of the month. We'll then engage further on how the CDC can assist them in managing the process of locating to the IDZ," said Mabandla.
Article Tags: chemicals
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