Special-purpose vehicle GreenCape will, by the end of 2014, make an application to the Department of Trade and Industry (DTI), the Western Cape provincial government and the City of Cape Town to declare Atlantis, on the Western seaboard, a special economic zone (SEZ).

A formal application for designation would, thereafter, be made to the national government.

GreenCape was created in 2010 as the project management office responsible for undertaking the prefeasibility and feasibility studies related to the region’s suitability to be designated an SEZ.

The organisation said in a statement that the city had already demonstrated its commitment to the economic development of Atlantis by announcing an investment incentive scheme in early 2013.

Along with government’s economic policy incentives, the Western Cape provincial government had also highlighted the goal to develop the West Coast as a green economy hub.

Atlantis was identified by the city as a suitable pilot area as it boasted a large, skilled workforce; several brownfield sites that were available at competitive prices; established infrastructure and a reliable water and electricity supply.

“The scheme benefits include financial and nonfinancial measures and apply to any business intending to locate to or expand operations within the Atlantis industrial area,” 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.