KwaZulu-Natal Correspondent

DURBAN Trade and Investment KwaZulu-Natal (TIK) had facilitated R400m worth of new investments in the past year, while another R1,6bn waited in the wings for development next year, acting CEO Naledi MoyoNdwandwe said.

Falling under the Trade and Investment SA (Tisa) umbrella, the investment agency seeks to make KwaZulu-Natal the premier investment destination and a leader in export trade. Within an agreed policy framework, the organisation identifies and packages investments and links opportunities to the province's development needs.

Moyo-Ndwandwe and Economic Development and Tourism MEC Roger Burrows said 14 projects had been established, the largest of which was the R110m NCT Woodchip plant at Durban harbour.

These projects have created more than 3000 jobs.

Flagship projects in the pipeline include a R200m organic vegetable plant in northern Zululand; a R1,2bn project to redevelop the Mooi River textile industry and a R150m project to establish a spirulina production and manufacturing plant.

Sep 16 2003 07:19:11:000AM Nicola Jenvey Business Day 1st Edition