Durban Aerotropolis Master Plan has an investment potential of R1 trillion
DURBAN - The Durban Aerotropolis will be a 32000 hectare special economic zone that will be anchored by the King Shaka International Airport.
Developed by the KZN Department of Economic Development, Tourism and Environmental Affairs as well as the eThekwini Municipality and Tongaat Hulett the freight development will be a business and trade hub that will be located between the Durban and Richards Bay ports in KZN.
The aerotropolis will give both investors and developers the opportunity to work from global spatial development best practice to improve connectivity as well as efficiency. It will also create a space that will have a positive impact on local communities and at the same time draw in investment and stimulate economic growth.
The Durban Aerotropolis Master Plan creates a development framework for the expected growth at this airport precinct. The region is expected to create 750000 permanent jobs and 42 million square metres of business development while accommodating 1,5 million residents.
The investment potential is R1 trillion and the plan foresees a 50 year growth plan with 3 percent GDP growth per year and a goal of 6 percent GDP growth per year.
Michael Dreighton the Managing Director of Tongaat Hulett said, "The emerging aerotropolis will stimulate social, spatial and economic transformation in the province while at the same time localise the benefits of global trends through a robust but flexible master plan framework".
Six key investment sectors have been identified including:
1. Advanced manufacturing
2. Health and pharmaceuticals
3. Aviation and aerospace
5. Agriculture and agri-processing
6. Electronics and electrical components
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