I&J invests R500m in new vessels, processing facility upgrade
Brand portfolio group AVI’s subsidiary I&J has invested more than R500-million into the acquisition of three new vessels and the upgrade of its existing Cape Town-based processing facility.
The investment, which was expected to create more than 75 new jobs, included the commissioning of a new R150-million deep-sea fishing trawler, as well as the acquisition of a R225-million freezer factory ship and a R45-million deep-sea trawler.
Also included in the R500-million investment was a R67-million upgrade to the I&J processing facility. The upgrade included the installation of advanced machinery and production flow lines, with the investment expected to deliver significantly improved quality, yields and efficiencies.
“This is a major investment programme for us and possibly the single largest in the industry for the last 25 years. This series of investments demonstrates I&J and its shareholders’ recognition that constant investment is absolutely necessary in such a complex industry.
“It also reflects the company’s confidence and belief in the industry and in the value of the Cape Hake resource, which is globally recognised as one of the best managed fisheries in the world,” I&J MD Jonty Jankovich-Besan said in a statement.
He said the investments would allow I&J to catch and process its quota more effectively and efficiently, underpinning the company’s current operating fundamentals and the returns to its stakeholders.
“Although part of this investment is to replace ageing fishing vessels and processing technology, we are also pleased to be creating new jobs within our business with these investments – leading to a minimum of 75 new jobs in the Western Cape,” he added.
I&J employs more than 1 500 people.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















