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East London IDZ attracts multibillion-rand investment

SPURRING DEVELOPMENT
The East London Industrial Development Zone has attracted more than R7.3-billion, since inception

SPURRING DEVELOPMENT The East London Industrial Development Zone has attracted more than R7.3-billion, since inception

24th February 2017

By: Donna Slater

Features Deputy Editor and Chief Photographer

     

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Since it was established in 2002, the East London Industrial Development Zone (Elidz) has attracted more than R7.3-billion in private-sector investment from 45 investors.

The Elidz was initiated by government, with a total investment of R2-billion for infrastructure within the development zone, which is geographically positioned and designated for specialised industrial activity. According to Elidz spokesperson Ayanda Ramncwana, the zone is specially set up for light industry manufacturers in search of “ultimate global competitiveness and new market entry”.

She adds that the Elidz is “renowned for its customised investment and property solutions” that assist industries in streamlining their business operations and in lowering their cost of doing business.

Currently active within the Elidz are manufacturers representing the automotive, renewable-energy, aquaculture and agroprocessing sectors.

Ramncwana says businesses, by locating themselves within the Elidz, can take advantage of the zone’s secure manufacturing environment, with controlled access and proximity to key transport networks, including harbour facilities, recently expanded airport capacity, and rail and road infrastructure.

In terms of the investment attracted thus far, 75% comprises foreign direct investors, while 32% of the total investment by value comprises companies in the automotive sector.

Further, she points out that the IDZ continues to attract export-orientated investors that assist in strengthening and diversifying the local economy. Linked to this, Ramncwana notes a report by Statistics South Africa reveals that 67%, or R3.8-billion, of the total inputs used by manufacturers in the Elidz during 2015 were sourced locally, while outputs worth R2.6-billion from these manufacturers were export bound.

Meanwhile, she notes that the Elidz currently has seven projects at different stages of construction. These include four new investors – in the information and communication technology, renewable-energy, advanced manufacturing and aquaculture sectors – that are preparing to break ground and start construction in the near future.

In addition, the IDZ is extending one of its investor’s facilities in the zone, owing to its increasing production requirements. Other construction projects at the planning phase are a wind farm in the area and an upgrade to the electrical infrastructure of the zone.

The Elidz has established a research and development (R&D) platform – the Elidz Science and Technology Park (Elidz STP) – to promote R&D. This will allow for the testing and prototyping of different technologies and new inventions.

“The Elidz STP encourages innovators and their start-ups to locate themselves within the zone, where they will have access to various innovation funders, as well as the Elidz STP-facilitated incubation process and facilities,” Ramncwana says.

The STP aims to facilitate the creation of creative, technical solutions to problems and to assist companies in adopting innovative approaches in all their operations.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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