Wednesday, 25 January 2017 09:32

Department of Trade and Industry to spend R216m on upgrades at industrial parks

Written by
Rate this item
(1 Vote)

The Department of Trade and Industry (dti) plans to spend R216 million on renovations at five industrial parks in the country.

Minister_Rob_Davies

On Tuesday, Minister Rob Davies said the renovations are aimed at upgrading the parks’ infrastructure so they can be better positioned to contribute to the country’s industrial development, economic growth and job creation.  

“Last year, the dti spent more than R180 million for the upgrading of six industrial parks spread across five provinces in the first phase of our Revitalisation of Industrial Parks Programme. We have set aside R216 million from our critical infrastructure incentive programme to start revitalising five more this year,” said Minister Davies.

The first phase of the revitalisation of the Nkowankowa, Ekandustria, Bodirelo, Phuthaditjhaba and Garankuwa Industrial Parks is due to commence after their budgets were approved late last year.

The revitalisation programme is implemented in four phases focusing on various areas, with the first being the upgrading of security infrastructure.

The dti identified a need to revitalise industrial parks located in various parts of the country, mainly the former homelands, as part of efforts to promote industrialisation, manufacturing and job creation 

“Our officials are already in the process of conducting inception meetings to discuss the implementation of the project with key stakeholders. The positive impact of the programme on the economy on the areas where the parks are located is felt as soon as the implementation begins, as most of the labour and construction materials are procured from those areas,” Minister Davies said.

He said the department would like to see more industrial parks operating as centres of excellence and beehives of economic activity, contributing to the growth and diversification of the economy.

“The revitalisation process will ensure that the upgraded parks appeal to private investors, provide a conducive environment and attract investments that will create jobs and assist in promoting economic transformation,” said the Minister.

The dti is applying a holistic approach to the revitalisation initiative to ensure that enterprises based there participate meaningfully in the mainstream economy in order to achieve the National Development Plan (NDP) and Industrial Policy Development Plan (IPAP) objectives.

Parks must be efficiently run to facilitate market access for goods manufactured there. They must provide financial and non-financial support and be clustered along industrial sector and value-chain lines.

Last modified on Friday, 27 January 2017 09:51

Most Popular

Getting into the buy-to-rent market without risking everything

May 03, 2017
Garry Palmer
A low growth economy and a rising cost of living has given property investors pause for…

Property Managers are evolving into Asset Managers

Apr 24, 2017
Sean Paul
The role of the property manager is evolving - with the lines being blurred between that…

Nedbank's Private Wealth is growing their presence in the Western Cape

Apr 25, 2017
Nedbank Private Wealth Logo
We are thrilled to announce that we have opened a new office in Stellenbosch.

Rebosis Property Fund reports net property income growth of 74.6%

Apr 24, 2017
Sisa Ngebulana Rebosis
Rebosis Property Fund, a JSE listed Real Estate Investment Trust (REIT) whose strategy is…