Special purpose vehicle GreenCape will, by the end of 2014, have completed the feasibility work for a proposed green technology (greentech) special economic zone (SEZ) in Atlantis.
After taking these proposals through the provincial cabinet and city council, the MEC will be in a position to make a formal application. The formal application for designation would, thereafter, be made to national government.
GreenCape was created in 2010 by the Western Cape government to unlock and unblock opportunities in the green economy. The organisation has been appointed as the project management office responsible for undertaking the prefeasibility and feasibility studies related to the region’s suitability to be designated as a greentech SEZ.
GreenCape said in a statement on Friday that the city had already demonstrated its commitment to the economic development of Atlantis by announcing an investment incentive scheme in early 2013, as well as designing an accelerated land disposal process.
Along with government’s economic policy incentives, the Western Cape provincial government had also highlighted the goal of developing the West Coast as a green economy hub.
Atlantis was identified by the city as a suitable industrial area as it boasts a large, skilled labour force; several greenfield sites that are available at competitive prices; established infrastructure and a reliable water and electricity supply.
“The City of Cape Town incentive scheme benefits include financial and nonfinancial measures and apply to any business intending to locate to, or expand operations within, the Atlantis industrial area, with the SEZ incentives focusing on companies qualifying as green technology manufacturing companies,” GreenCape outlined.
The envisaged Atlantis SEZ would focus largely on green technology, aiming specifically to grow the province’s green technology sector, promote the revitalisation of Atlantis as a key industrial node in the region, create employment opportunities and attract domestic and foreign direct investment to the area.
“GreenCape is hoping Atlantis will be one of the first zones designated by the DTI,” commented Atlantis SEZ project executive Mike Mulcahy.
“Designation is viewed as a logical extension to the province’s ongoing efforts to position itself as Africa’s green technology manufacturing hub, as outlined in a recently published green economy strategy framework,” he elaborated.