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R2bn earmarked for development of Durban

Posted On Thursday, 12 July 2001 03:01 Published by
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Some 1,4-million visitors a year expected at marine park

Some 1,4-million visitors a year expected at marine park
DURBAN More than R2bn has been earmarked for councilbacked projects in the city over the next five years, including a R657m marine theme park proposed as a long-awaited development on the Durban waterfront.
Durban metropolitan mayor Obed Mlaba told delegates to the Second Durban Economic Growth Summit that the council had committed the capital to regional economic development to stimulate growth.
This included more than half the necessary funding for a proposed marine theme park; R263m over 15 years for a new soccer stadium and R220m towards developing and upgrading the Effingham-Avoca industrial area north of Durban.
During the initial Economic Growth Summit in October, the council committed R100m in seed capital to the marine theme park.
A partnership with business ensured a feasibility study for the project.
Yesterday project director Neels Brink said the last piece in the funding puzzle will be finalised within a few weeks and a full disclosure of the proposed park on a 60-hectare site open for development will be made in August.
Brink said the project will include an oceanarium as the new headquarters for the SA Association for Marine Biological Research. It will also include a water and entertainment park as the existing park will be dismantled.
The marine park will be pitched towards domestic tourists and local residents, with an estimated 1,4-million visitors a year


Publisher: Business Day
Source: Business Day
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