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Port of Saldanha set to unlock R13bn worth of investment opportunities

Port of Saldanha

Port of Saldanha

Photo by Duane Daws

3rd July 2015

By: Creamer Media Reporter

  

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The Port of Saldanha would present investors with investment opportunities in excess of R13-billion over the next five years, business leadership organisation Accelerate Cape Town announced at its July Thought Leadership session.

Feasibility studies are already under way and the first contract will be put out to tender by end-2015, the company said in a statement. “Transnet National Ports Authority (TNPA) has called on the private sector to join it in turning the port’s economic potential into reality,” read the statement.

“As a State owned entity – and with all the other priorities that government faces – we have realised that we can no longer invest in everything. As a result we are inviting the private sector, including foreign investors, to invest in the initiatives planned for the Port of Saldanha. The R13-billion is made up of three key projects: an offshore oil and gas supply base; a dedicated rig repair berth; and an extension to the old Mossgas repair jetty,” said TNPA GM: strategy Nico Walters.

Wesgro CEO Tim Harris welcomed the TNPA announcement as one that would strengthen the Cape’s position as a key business destination in Africa.

Describing ports as levers of growth, Harris acknowledged the TNPA’s collaborative approach with the private sector to help establish the region as a major transport and logistics hub.

“Already, 54 out of 98 (almost 59%) of the international companies that have invested in Cape Town have done so to access the African market. Exports from the Western Cape totalled R74.87-billion in 2013, an increase of 16%, while Western Cape ports – including Cape Town, Saldanha and Mossel Bay – handle 20% to 30% (5 904 t in February 2014) of the cargo in South Africa,” said Harris.

Fourteen large companies based within the Cape metropolitan region have collective annual revenue of $52-billion. Within Africa, this positions Cape Town second only to Johannesburg in terms of the number of large companies and associated revenues.

“The Cape is an attractive business destination for many reasons, including that it has the fifth lowest logistics – and the lowest oil and gas – operating costs compared to its peers. Airports Company of South Africa’s (Acsa’s) plans for an aerotropolis will unlock further growth as we work to connect the ports and optimise these State assets for the economic benefit of the people of Cape Town,” Harris said.

Meanwhile, Acsa COO Tebogo Mekgoe discussed the organisation’s plan to transform Cape Town International Airport into an aerotropolis that could ultimately extend to a 20 km radius beyond the airport.

“Acsa’s aerotropolis strategy is designed to offer businesses speedy connectivity to suppliers, customers and enterprise partners nationally and world-wide. It will deliver firm and regional efficiency by generating ‘economies of speed’, while supporting the regional population in a sustainable manner,” Mekgoe said.

Rapid urbanisation is placing enormous pressure on cities, and addressing challenges related to sustainable growth will become central to economic prosperity.

Session facilitator and Accelerate Cape Town CEO, Chris Whelan, said the population of Cape Town would increase from 3.75-million to 5-million by 2030.

“A robust, inclusive economy will be critical to support this growth. Establishing it demands, among others, the optimisation of the considerable State assets based in our region. Together with regional economic entities such as Wesgro, and the relevant regional and local government departments, the TNPA and Acsa are perfectly positioned to help unlock the region’s transport and logistics potential.

“Business is encouraged by the progress and plans presented [at the conference], and we are keen to facilitate investment as we collaborate towards a more inclusive and stable regional economy,” he concluded.

Edited by Creamer Media Reporter

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