R135m power-cable plant to open in PE
CAPE TOWN - Trade and Industry Minister Ebrahim Patel will on Thursday open a R135million high-voltage power-cable plant in Port Elizabeth.
The plant forms part of Aberdare Cables’ expansion strategy and is a direct response to President Cyril Ramaphosa’s campaign to attract investment and grow the economy, a statement said yesterday.
The investment will increase Aberdare Cables’ manufacturing capability of cables from a current level of 33kV to a new product offering of up to 132kV.
The facility is expected to be functional towards the end of July. Fifty-eight jobs would be created in addition to the 429 jobs that Aberdare Cables created in its Port Elizabeth office to date, at both plant level and commercial level. Aberdare Cables chief executive Dr Haiyan Song said the investment would create opportunities for local young people.
“Wealth and jobs are created by expanding productive capacity. The government will deploy industrial policy measures to support manufacturers as that opens economic opportunities for the industry and for the country at large,” Patel said.