From Creamer Media in Johannesburg, this is the Real Economy Report.
After losing the Alcan contract owing to the energy crisis in 2008, the Coega Development Corporation is focusing on renewable energy. Dennis Ndaba has the story.
The renewal energy focus emanates from the need for more energy in the IDZ, which led to the formation of the Coega IDZ energy cluster, which has power projects lined up 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.
CDC is also looking at green technologies to leverage this year’s National Budget. About R20-billion manufacturing tax allowance – relief for greenfield or brownfield investments. To qualify for this allowance the minimum investment must be R200-million for new projects and R30-million for expansion and upgrades.
CDC business development manager Nkuli Mxenge
Shannon de Ryhove:
Other news making headlines this week include new think tank Mistra’s probe into the potential benefits of fuel cells for South Africa; a new academy is launched to develop South Africa’s electronics skills; and municipalities get new housing responsibilites to speed up delivery.
One of the key research projects that would be looked at by the newly launched Mapungubwe Institute for Strategic Reflection (Mistra) was the evolution of fuel cell technologies and the role that South Africa, as the largest producer of platinum group metals (PGMs), could play in this up-and-coming industry.
Mistra director Joel Netshitenzhe
International consumer technology giant Samsung, through its core corporate social responsibility (CSR) initiative, has launched the Samsung Electronics Engineering Academy, in Boksburg, with the aim of developing 10 000 electronic engineers across Africa by 2015, of which a few thousand will come out of South Africa.
Samsung South Africa president and CEO Kwang Kee Parks
Human Settlements Minister Tokyo Sexwale has assigned new powers to eight municipalities, giving them clearly defined administrative functions to speed up the delivery of national human settlement and housing programmes.
Human Settlements Minister Tokyo Sexwale
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.