The Saldanha Bay industrial development zone (IDZ), in the Western Cape, is set to get a financial boost as the Western Cape government and “a range” of other stakeholders are expected to invest more than R1-billion over the next few years.
Western Cape Finance, Economic Development and Tourism Minister Alan Winde said on Wednesday that the IDZ had the potential to create 15 000 jobs over the next ten years and generate R10-billion for the region’s economy over the long term.
“A key part of our plan [the Cape Catalyst project] is to develop infrastructure that catalyses our economy. These projects are designed to attract investment and jobs by changing the way our [province] is viewed,” he said during his budget speech.
The Western Cape allocated funding of R28.091-million in 2014/15, R29.155 million in 2015/16 and R30.270-million in 2016/17 to the Saldanha Bay IDZ initiative to manage the planning and implementation of the project, as well as continue the roll-out of skills development within the local community, besides others.
This formed part of the Western Cape’s expansive R150-billion three-year plan to strengthen "the walls of its house” and achieve its ‘Vision in Action’ budget aimed at building inclusive growth, jobs and a better life for all.
The province aimed to promote economic growth through infrastructure investment, growing the green economy, increasing the value of its agriculture sector and improving the Western Cape’s competitiveness.
The provincial government planned to spend R14.48-billion on maintenance and new and replacement infrastructure alone in the next three years.
Increasing employment, the improvement of the quality of public education and healthcare, and the reduction of poverty, crime and other social ills were also key pillars of the plan.