R/€ = 15.16Change: -0.14
R/$ = 14.32Change: -0.18
Au 1058.05 $/ozChange: -14.00
Pt 835.50 $/ozChange: -10.00
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?

And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters About Us
RSS Feed
Article   Comments   Other News   Research   Magazine  
Mar 11, 2011

Coega attracted investments worth nearly R14bn – CDC

CDC marketing and communications Manager Senzeni Ndebele discussing investments at Coega. Cameraperson: Nicholas Boyd. Editing: Darlene Creamer.
Gas|Industrial|PROJECT|Projects|Renewable Energy|Renewable-Energy|SECURITY|Solar|Automotive|Energy|Wind Energy|Infrastructure|Power
Gas|Industrial|PROJECT|Projects|Renewable Energy|Renewable-Energy|SECURITY|Solar|Automotive|Energy|Wind Energy|Infrastructure|Power
© Reuse this

The Coega Development Corporation (CDC) has secured investments worth R13,87-billion for the Coega industrial development zone (IDZ) in the Eastern Cape, marketing and communications manager Senzeni Ndebele said this week.

Of this, projects worth R3,19-billion were being implemented, while projects worth R9,85-billion were delayed, Ndebele told a media briefing at the IDZ.

“The number of indirect jobs expected to be created by projects under negotiation and projects on feasibility are 76 000, with negotiated projects accounts for 3 784 and feasibility for 72 216,” said Ndebele.

State-owned oil company PetroSA is planning to build a 400 000-bbl/d greenfield refinery, dubbed Project Mthombo, at Coega, which would be a major boost for the IDZ.

But critics have argued that the mega refinery, which would cost between $9-billion and $11-billion, would be oversized and stranded from existing infrastructure.

Ndebele stressed that thousands of indirect jobs would be lost if Mthombo was relocated to another province.

“There will be about 29 884 expected jobs in the pipeline without the refinery. Project Mthombo is critical for the Eastern Cape and we are confident that it will not be relocated to Durban.”

She added that CDC is waiting for an announcement in this regard from the Department of Energy and PetroSA.

At the moment, the corporation is implementing various projects in the metals, renewable energy and automotive sectors as well as opportunities in the business process and outsourcing park, which was recently completed.

“During the economic crisis, we took a slump, dumped some projects and some were delayed. We are confident that Coega is not a white elephant and investments will grow to fill the IDZ,” Ndebele said.

Meanwhile, CDC business development manager Nkuli Mxenge said after the corporation lost the Alcan smelter, it decided to ensure security of electricity supply.

This led to the formation of the Coega IDZ energy cluster, which has power projects such as the 2 400 MW Coega combine cycle gas turbine station, the 330 MW Dedisa peaking plant, 183 MW of wind energy and 12 MW of solar energy lined up.

Coega aims to produce 1 000 GWh (480 MW) of electricity from renewable energy by 2013, which would account for 10% of the national renewable energy target of 10 000 GWh. Currently, the CDC is at 3,8% with 183 MW.

“With electricity generation technologies, biomass, wind, solar, bio-steam, biogas and non electric technologies, about 10% is achievable by 2013,” noted Mxenge.

She added that the corporation is looking at more green technologies.

Edited by: Creamer Media Reporter
© Reuse this Comment Guidelines (150 word limit)
Other Video News
Latest News
Updated 47 minutes ago French conglomerate Bollore may have to halt work on the Niger to Benin section of its giant West Africa rail project after a rival company won a court order to stop it going ahead. The dispute concerns rival rail schemes in the area.
Updated 53 minutes ago A week ahead of the second annual gathering of the Forum on China–Africa Cooperation (Focac), in Johannesburg, the JSE is rolling out the proverbial red carpet for Chinese investors looking to Africa’s largest bourse for possible investment opportunities, calling...
Updated 54 minutes ago The South African National Roads Agency Limited (Sanral) applied for leave to appeal on Friday against the Western Cape High Court judgment that set aside the approvals that would enable it to toll sections of the N1 and N2 freeways in Cape Town. This prompted the...
Recent Research Reports
Water 2015: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2015 Report considers the aforementioned issues, not only in the South African context but also in the African and global context in terms of supply and demand, water stress and insecurity, and access to water and sanitation, besides others.
Input Sector Review: Pumps 2015 (PDF Report)
Creamer Media’s 2015 Input Sector Review on Pumps provides an overview of South Africa’s pumps industry with particular focus on pump manufacture and supply, aftermarket services, marketing strategies, local and export demand, imports, sector support, investment...
Liquid Fuels 2015: A review of South Africa's liquid fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2015 Report examines these issues in the context of South Africa’s business environment; oil and gas exploration; fuel pricing; the development of the country’s biofuels industry; the logistics of transporting liquid fuels; and...
Road and Rail 2015: A review of South Africa's road and rail sectors (PDF Report)
Creamer Media’s Road and Rail 2015 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail infrastructure and network, the funding and maintenance of these respective networks, and...
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
This Week's Magazine
The BMW Group will invest R6-billion at BMW Group South Africa’s (BMW SA’s) Rosslyn plant to produce the next-generation X3 sports-activity vehicle (SAV) for the local and export markets. Rosslyn will continue production of the current 3 Series through its lifecycle,...
The lack of consequences for poor performance and transgressions on the part of contractors remains a significant hurdle to tackling South Africa’s service delivery challenges, delegates heard at the Consulting Engineers South Africa Infrastructure Indaba, on...
City of Ekurhuleni executive mayor Mondli Gungubele earlier this month officially named the city’s bus rapid transit (BRT) system, Harambee.
NICK CHRISTODOULOU As about 58% of data stored by organisations is dark, they must identify this dark data to expose risks and valuable information
About 58% of unstructured data stored by companies is dark data, which means that the value or regulatory importance of the data has not been determined. Subsequently, most of the stored data add costs, rather than increasing revenue or reduce regulatory risks, says...
BRIAN VERWEY Effective management, review and administration of non-core elements can improve business operations and increase revenue and decrease unforeseen risks
Effective logistics, import/export and manufacturing consulting services require detailed industry knowledge and experience, but can add significant value to these industries by providing expert advice on various technical elements in their value chains, says...
Alert Close
Embed Code Close
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96