Johannesburg - The Coega Development Corporation (CDC) has signed a historic R11 billion investment deal with the Beijing Automobile International Corporation (BAIC) from China for the establishment of a completely knocked down (CKD) vehicle manufacturing plant in the Coega Industrial Development Zone (IDZ).
The signing follows BAIC committing in December to invest R11bn in a manufacturing plant in South Africa.
Mandla Mpangase, a spokesman for the IDC, confirmed to Business Report earlier this year that the first phase development of the plant would create a facility with a capacity to produce between 40 000 and 50 000 units a year, with the plant’s capacity doubling in the second phase.
Mpangase said the partners were looking to commence with the construction of the plant towards the end of this year or the beginning of next year.
What vehicles can we expect?