PRETORIA – The Deputy Minister of Trade and Industry, Mr Bulelani Magwanishe and the MEC for Economic Development, Environmental Affairs and Tourism (DEDEAT) in Eastern Cape, Oscar Mabuyane have welcomed the R502 million investment into the East London Industrial Development Zone (ELIDZ) announced by two local investors, Meek Mines South Africa and Nulatex Condoms South Africa, which the Chief Executive Officer of the ELIDZ, Mr Simphiwe Kondlo said it would create 450 jobs for the locals.
Meek, which cuts and polish diamonds mined in Africa for supply to both the domestic and foreign markets, will be investing R423 million. The company has taken over an existing facility within the ELIDZ section which includes diamond cutting and beneficiation. Meek plans to create 150 jobs over a five-year period beginning in 2019.
Nulatex, a pharmaceutical company which will be manufacturing male and female condoms and other latex products from a facility in the IDZ, is investing R79 million and plans to create 300 direct jobs beginning 2019.
This first investor in the ELIDZ’s pharmaceutical cluster, has already signed an off-take agreement with the provincial Department of Health for the supply of their latex products.
Magwanishe said a success story emanating from this initiative is the empowerment of people, through employment, access to the opportunities and skills development.