Aug 27, 2012
Key manufacturing incentive deadline draws nearBack
Components|Cova Advisory|Cova Advisory & Associates|Industrial|MCEP|Green Technology|Manufacturing|Duane Newman|Green Technology
© Reuse this
The incentive scheme, which was unveiled in the February Budget, was officially launched in May and the Department of Trade and Industry (DTI) began accepting applications from June 4.
The objective of the incentive is to promote enterprise competitiveness and job retention through a ‘production incentive’ and ‘industrial financing loan facilities’, both of which have various subcomponents.
Under the scheme, investments are generally only considered if applicants complete their submissions at least 60 calendar days prior to commencement, or commercial use, of the qualifying assets.
But the DTI has moved to accommodate capital investments and green technology upgrading initiatives that began producing between May 30, 2012 and July 30, 2012 – both components fall under transitional provisions established for the production incentive aspect of the scheme.
In these instances, the 60-day rule has been waived, but applicants need to make their submission before the end of the month, as from September 1, the MCEP will revert to its normal timeline for submission.
Through the capital investment component, the incentive offers a cost-sharing grant of between 30% and 50% of the investment value, up to a maximum of R50-million.
Under the green technology and resource efficiency incentive a cost-sharing grant of between 30% and 50% of the investment is available, payable on production up to a maximum of R50-million.
Newman suggests that those companies that believe they stand a chance of qualifying should either contact the DTI directly, or contact a consultant associated with the Incentives Consultants Association.
Edited by: Creamer Media Reporter© Reuse this Comment Guidelines (150 word limit)
Other Electricity News
Updated 4 hours ago Power utility Eskom said it would extend power cuts to 2 000 MW of electricity from 12:00 to 22:00 on Friday due to a shortage of generating capacity. The cash-strapped State utility, which has been forced to reduce electricity supply in Africa's most advanced...
Updated 12 minutes ago South Africa’s crude steel production dropped by a sizeable 17.2% year-on-year to an estimated 530 000 t in April, amplifying a global trend that saw world steel production decline by a comparatively marginal 1.7% to 135-million tons in the fourth month of the year....
Updated 28 minutes ago The Treasure the Karoo Action Group (TKAG) on Friday called on government to delay publishing final regulations and issuing rights for shale gas exploration in the Karoo, until a 24-month strategic environmental assessment (SEA) has been concluded. TKAG CEO Jonathan...
Updated 1 hour 25 minutes ago Strengthening its position in the European extrusion coatings market, international packaging and paper group Mondi has inked a deal with technical laminates and protective packaging company Walki Oy for the acquisition of two extrusion coatings plants in...
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
This Week's Magazine
While economic forecasts for the African continent are most favourable, African airlines may not be able to benefit from the expected growth in the region’s gross domestic product (GDP), International Air Transport Association VP: Africa Raphael Kuuchi has warned....
The Automotive Production and Development Programme (APDP) will need to change substantially post 2020, says Metair Investments South African operations COO Ken Lello. “We must not make tweaks. We have to change. What we are doing is not sustainable.”
Banking group Absa’s forecast is for the rand to end the year at around R13 against the dollar, weakening further to R13.50 by 2016, says Absa sectoral analyst Jacques du Toit. He warns that possible interest rate hikes in the US may see capital being pulled from...
The Dispute Resolution Centre at the Bargaining Council for the Civil Engineering Industry (BCCEI) is now open to handle party-to-party disputes. The BCCEI represents the interests of all level four to nine Construction Industry Development Board companies.
Communications technology firm Ericsson sub-Saharan Africa head Fredrik Jejdling says the company’s commitment to sustainability and corporate responsibility has been integrated into all facets of its operations, which has provided it with sustainable revenue...