A textile manufacturer from the Czech Republic is to build a state-of-the-art manufacturing facility in Atlantis, in the Western Cape, in a R1-billion investment that would create hundreds of jobs for local residents, Wesgro said on Tuesday.
The Western Cape’s tourism, trade and investment promotion authority and Into South Africa, an investment advisory firm, plan to make an official announcement on Wednesday about the investment by Pegas Nonwovens, a Czech nonwoven fabrics manufacturer.
The Wesgro statement said the investment, one of the biggest foreign direct investments in manufacturing in the Western Cape since 2011, came after months of negotiations and due diligence reports.
More information will be available at a press conference on Wednesday, which will be attended by the Western Cape Premier Helen Zille, Cape Town mayor Patricia De Lille, Western Cape Economic Opportunities and development Minister Alan Winde, Pegas Nonwovens CEO Frantiçek Rezac and Into SA CEO Ralph M Ertner.