File picture: Supplied
CAPE TOWN - Investment in the oil and gas sector, set to be worth between R1.8 billion and R2.2bn, is expected to be generated at Saldanha Bay's Industrial Development Zone, following the signing of an offshore supply base agreement. It will boost the region's economy and generate much-needed employment for the town. 

This is according to Siyabonga Gama, chief executive of Transnet. 

Gama was a keynote speaker at a ceremony in Saldanha Bay at the signing of an off-shore supply base agreement yesterday between Transnet National Ports Authority and Saldehco. 

Saldehco is a privately owned South African company comprising principal shareholder Harps Holding and local partner Semona, while Harps is a private investment company. 

- BUSINESS REPORT