DURBAN- KwaZulu-Natal MEC for economic development, Sihle Zikalala, said on Tuesday that 15 out of 46 investment commitments mentioned by President Cyril Ramaphosa recently were packaged by KZN and their net effect would see R25.5 billion out of R110 billion destined for the province.
Speaking during a media briefing in Pietermaritzburg, Zikalala said KZN investors had also committed investments in the province within the next five years, including Sappi's commitment of R7.7 billion, Toyota's R40 billion, Sumitomo Rubber's R1 billion, and Mondi's R8 billion.
"We are indeed encouraged by the bold steps from the private sector to invest in our economy. As government we are committed to continue making the environment conducive for doing business in this coastal province, including ensuring policy certainty and as well as ease of doing business," Zikalala said.
Zikalala said over the next five years, the Dube Trade Port is set to attract in excess of R18 billion in private sector investments.
He said the second phase of Dube Trade Zone will be 43 hectares and this is set to house various business operations such as electronics, medical and pharmaceutical enterprises. The top level structures are expected to go up by 2020.
- African News Agency (ANA)