CAPE TOWN – President Cyril Ramaphosa is expected to officially launch the Atlantis Special Economic Zone in the Western Cape this morning.
Daniel Erasun Mora, plant manager at GRI, explains the production process. The plant manufactures approximately 100 towers per year for wind turbines distributed around the country. #AtlantisSEZ pic.twitter.com/UsgPsiXcbZ— PresidencyZA (@PresidencyZA) December 6, 2018
The 124.5-hectare area has been designated as a green hub aimed for the establishment of green technologies in the province.
SEZ status for the area was approved by the cabinet on 8 June 2018.
SEZs are used by the government to drive industrial and economic development with cluster industries from a particular sector located in geographically designated areas to get the benefits of scale and co-location. They are supported by a range of incentives aimed at attracting local and foreign investment.
A combined R1.8 billion is expected to be invested in the SEZ by 2022, with the creation of 1,200 direct jobs. A total of 24,000 full time equivalent jobs are also expected to be created in the SEZ's 20-year lifespan. #AtlantisSEZ pic.twitter.com/2fUhisSwhA— PresidencyZA (@PresidencyZA) December 6, 2018
The Minister of Trade and Industry, Dr Rob Davies said the Western Cape provincial government in partnership with the city of Cape Town established a manufacturing hub for green technologies in Atlantis in 2011 which attracted large investors even before the designation was official.
BUSINESS REPORT ONLINE