from FUTHI MBHELE in Durban
DURBAN – THE South Africa Investment Projects (SA Invest) initiatives in the KwaZulu-Natal province are poised to transform the country’s economy and uplift communities in the mid-South Coast.
Investment that is changing the face of Durban
The projects include the R800 million (US$42,8 million) Serenity Hills Eco Estate and R500 million Renishaw Coastal Precinct.
Deputy Ministers in the Presidency, Kenneth Morolong and Nomasonto Motaung, have led a media tour to the projects.
“The investments of both Serenity Hills and Renishaw Coastal will make a serious economic transformation for the country. Government is also committed to continue mobilising investments both domestically and internationally in order to create sustainable jobs for the future of this country,” Morolong said.
Serenity Hill has been included in the South African Economic Reconstruction and Recovery Plan after being honoured by President Cyril Ramaphosa at the fifth South African Investment Conference (SAIC) in April this year.
The Renishaw Coastal Precinct is a 1 300 hectares mixed-use development on the mid-South Coast. It is considered one of the country’s biggest developments.
Morolong said the community programmes that are linked to the two projects were making a significant impact in the lives of those who were previously unemployed.
He said the skills and entrepreneurial opportunities that have been created for young people at both Serenity Hills and Renishaw Coastal Precinct were impressive.
Neville Matjie, Chief Executive Officer of Trade and Investment KwaZulu-Natal (TIKZN), said he was pleased with progress registered by both projects, which he described as important investments for the province.
“We have worked with both projects, coordinating the unblocking of bottlenecks in municipal processes so that the developments could run smoothly and timeously,” he said.
“As the provincial investment promotion agency, we reiterate that KwaZulu-Natal is open for business. We will continue to work and showcase the province’s competitive advantage and position as a world-class investment destination,” Matjie added.
The fifth SAIC in Johannesburg was the final leg of the current investment drive to attract R1,2 trillion over five years.
Of the 152 investment announcements made previously, 45 projects have already been completed, while a further 57 projects are currently under construction.
These investments have resulted in new factories, call centres, solar power plants, undersea fibre optic cables, expansion of production lines and the adoption of new technologies.
– CAJ News
