Singapore company to invest in Coega

Posted On Tuesday, 24 April 2007 02:00 Published by eProp Commercial Property News
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A Singapore company would invest nearly R6bn in a chlorine manufacturing plant in Port Elizabeth, the Coega Development Corporation said yesterday.

 

Thabo MbekiCoega Development Corporation spokeswoman Vuyelwa Vika said the investment deal, which was signed between Straits Chemicals and Coega Development Corporation, would bring the company to the Coega Industrial Development Zone and contribute to job creation in Eastern Cape.

“Straits Chemicals will construct a leading technology plant with a capacity to produce 600 tons of chlorine a day to supply both foreign and domestic markets,” she said. “This project is expected to create 600 jobs during the construction phase and, once operational, will employ about 250 people on a three-shift basis, excluding management positions.”

Straits Chemicals would use state-of-the-art membrane technology that was cleaner and friendlier to the environment.

She said the signing of the deal, which was witnessed by Singaporean President Sellapan Ramanathan, brought the total value of investment attracted by the Coega Development Corporation to the development zone to more than R20bn.

“This is further proof that the Coega IDZ is establishing itself as the preferred investment destination on a global scale, and that will play a key role in contributing to changing the economy of the Eastern Cape for the better and creating positive socio-economic impacts that will improve the material conditions of South Africans where that is most needed,” she said.

Ramanathan visited SA last week and held talks with President Thabo Mbeki on trade and investment between the two countries.

During his visit he also officially opened a chlorine refinery and desalination plant — a R5,8bn joint venture by Chemicals Industries Far East of Singapore and South African empowerment partners.

Last modified on Wednesday, 25 June 2014 12:27

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