Positive trends emerging from Coega

FAW on track with first major FDI outlay in the Coega IDZ

Positive trends emerging from Coega
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Prelim results for the Coega Development Corporation (CDC)’s 2012/13 financial year show that the organisation is building on solid growth over the past three years, attracting investment, project managing infrastructure projects provincially and creating jobs and training opportunities as a result.

The CDC exceeded its corporate performance targets in 2012/13 to create 13 596 direct and indirect jobs, train 13 607 people, attract a total of eight new investors and increase self-generated revue through external projects and services to the tune of R290-million.

“It has indeed been a good year for the organisation,” said Ayanda Vilakazi, CDC head of marketing and communications. “Of course, we tend to want to aim higher and not risk complacency, but it is good to celebrate and our performance results are notable, considering rising electrical costs and persistent global economic instability.”

The CDC is mandated to develop the Coega Industrial Development Zone (IDZ).

Meanwhile, construction on-site at First Automobile Works’ (FAW) truck assembly plant is proceeding at a pace, with August set to be the “month of milestones” according to lead contractor, WBHO Construction’s Eastern Cape managing director, Arnie van Jaarsveldt.

“The pits are almost complete – a milestone which will allow for the casting of the concrete floors after the installation of the plant machinery,” said van Jaarsveldt. “Also our municipal connections are in the pipeline, with permanent water and sewers already connected and power due to come online in late-August.

“Probably the most exciting two milestones, however, are the arrival of two of the seven overhead cranes, which will be installed inside the plant; and the fact that by mid-August the top structures will be complete and the shell of the building will be completely enclosed.”

A 50-strong installation crew will also arrive from China in August for the installation of the plant machinery to the pits followed by the testing and commissioning phase.

 

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