[ad_1]
A total of 50 companies have pledged to contribute R109.6 billion at the third Annual South African Investment Conference.
Today’s collective pledge brings the total amount of investment pledges to R773.6 billion in investments in the last three years. With this total amount, South Africa has reached 64% of its total target of 1.2 trillion rand.
“The world is still in the midst of a devastating pandemic that has disrupted global markets. Difficult decisions have had to be made about investment, expansion and entry into new markets.
“So it is significant that everyone has come here, both in person and virtually, to show that this is a country that they believe in and that they want to see it succeed,” said President Cyril Ramaphosa.
With this year’s conference taking place in an extremely moderate economic climate, President Ramaphosa said that securing investment commitments of more than 100 billion rand is a remarkable achievement.
“Several of the investment commitments made at this conference are in sectors that have been heavily affected by Covid-19, especially the tourism and hospitality industries. These investments will contribute greatly to its recovery, ”he said.
Investments are distributed in various sectors throughout the country.
In Gauteng, Anglo African Metal committed to invest R280 million in the benefit of titanium. Bradley Aviation pledged R244 million to the aeronautical sector in Gauteng.
In the company’s expansions, Fuchs pledged R260 million to expand its lubricants operations, while Procter and Gamble promised R260 million for the expansion of its diaper plant.
Unica also committed R250 million to expand its blitz steelmaking capacity. Dangold Packaging is investing R830 million in a beverage packaging plant.
Scaw will invest another R250 million to upgrade its hot rolling plant and steelmaking capacity in Gauteng. SA Steel Mills promised R1.5 billion to establish a steelmaking plant in the province.
Supavut is committed to supporting the automotive components sector in the Tshwane Special Economic Zone, with a contribution of 150 million rand. Sew Eurodrive pledged 200 million rand in the automation sector in Gauteng.
For the Gauteng real estate sector, Divercity Urban Property Fund put its commitment of R1.2 billion into a mixed-use real estate development.
In the data sector, Teraco Data Environments committed R4.4 billion, while NTT and Dimension Data pledged R875 million to expand their respective data center infrastructure in Gauteng.
In the Northern Cape, Afrimat committed an investment of R300 million in the iron ore sector.
In Limpopo, Ivanhoe Mines is investing another R730 million in the Platreef project.
Regarding the Eastern Cape, Lactalis committed to invest 100 million rand in a milk powder production plant, while Sundale promised 101 million rand for cheese and dairy production in the Eastern Cape.
Sinayo and Homesek formed a partnership to invest R500 million in the dairy sector in the Eastern Cape. In a plan to invest in plastic waste for oil facilities in the Eastern Cape, Clariter pledged to contribute R222 million.
Still in the Eastern Cape, the Giant Flag Consortium promised R184 million in an ecotourism development.
In Mpumalanga, Mapochs Resources has committed R 100 million to the reestablishment of a vanadium mine in the province. Sail pledged a total of R562 million for the Mpumalanga ferrochrome mill.
Other commitments for Mpumalanga included Sasol’s promise of R5.4 billion for clean fuels at its Secunda plant, while Sonae Arauco pledged R200 million for the expansion of its papermaking line.
The Western Cape will see an investment of R2 billion from the Amdec group for the development of its port.
Capita set aside R530 million for the establishment of a global delivery center in its business process outsourcing sector in the Western Cape.
In KwaZulu-Natal, United Heavy Industries committed R350 million for the establishment of a steel bar manufacturing plant.
An investment in a lifestyle resort is also being prepared, with a promise from Thukela of R1.4 billion.
Provenance committed R 100 million to the development of a film studio and innovation center in KwaZulu-Natal.
KZN’s real estate sector will also see investments through the R8.4 billion pledged by Robert Jurgens Construction Management for the property, including a hospital for the province, while the Blythedale Coastal Estate pledged R800 million for a lifestyle real estate development. .
Really Epic Dog is investing R200 million in luxury gaming hosting Home Stead in KwaZulu-Natal.
Port Shepstone committed R550 million to an intermodal transportation facility and a shopping center in KwaZulu-Natal.
Mnambithi Group promised R1.3 billion in a multipurpose bulk liquid storage terminal at the port of Durban.
Investments to be made in various parts of the country include the following:
- Equites and Sandvik: 287 million rand to expand their facilities.
- Metair: R1.1 billion in the automotive component manufacturing industry in KwaZulu-natal, Eastern Cape and Gauteng.
- Dr. Oetker: 200 million rand to expand the production of pizza and ready meals.
- Frimax – R380 million for the expansion of snacks and chips.
- Pepsico – R5.5billion to further expand manufacturing capacity at its Pioneer Food operations in the country.
- PG Bison: R1.98 billion to expand its board manufacturing plant in Piet Retief and invest in a medium density fibreboard plant in Boksburg.
- Akani Properties – R1.2 billion for a series of real estate developments in the Northwest, Gauteng and Mpumalanga.
- Telkom: R8 billion to expand Telkom’s infrastructure across the country.
- Google: R2.2 billion in a fiber optic submarine cable in the Western Cape that will provide high-speed Internet connectivity in South Africa.
- Sola – R400 million in the renewable sector throughout the country.
- Sola Africa: 170 million rand in solar energy for large industrial consumers
- New Development Bank – R32 billion for project financing in South Africa.
- Old Mutual: R3.6 billion in funds for infrastructure projects in South Africa.
- Sanlam R7.25 billion for the financing of small and medium enterprises and infrastructure projects in South Africa.
- Industrial Development Corporation: R8 billion to finance projects in South Africa.
- Belgian Chamber of Commerce with an investment of 1.5 billion rand.
Read: South Africa’s debt crisis can be avoided, says Ramaphosa
[ad_2]
