future growth. KwaZulu-Natal already has significant capacity in heavy and light manufacturing, agriprocessing and mineral beneficiation, all of which is supported by South Africa’s two busiest ports (Richards Bay and Durban), the country’s busiest highway (the N3), a modern international airport (King Shaka International) and pipelines that carry liquids of all types to and from the economic stronghold of Gauteng province in the interior. Toyota and Bell Equipment play a big role in the automotive sector while the Engen Oil Refinery is a strategic asset. Sugar, tourism and forestry and paper are the other important sectors driving growth and employment in KwaZulu-Natal. A number of bodies support investment into the province. Chief among these is Trade & Investment KwaZulu-Natal (TIKZN), which offers expert advice and support in every aspect that potential investors might need. Support is also offered to existing investors who might want to expand their business or start exporting products. A Provincial One-Stop-Shop is being established to facilitate getting all the paperwork done as fast as possible for new investors. Bodies such as the South African Revenue Service (SARS) and Home Affairs will be involved in this process. Three entities that work hard to attract investment in their own right are Richards Bay Industrial Development Zone (RBIDZ), Dube TradePort and eThekwini Municipality. The latter body’s KWAZULU-NATAL BUSINESS 2017/18
dedicated unit is called Durban Investment Promotion (DIP), which in turn works with bodies such as the Durban Chamber of Commerce and Industry and TIKZN. In his 2016 State of the Province address, Premier Mchunu announced these investments in the RBIDZ: titanium plant (R4.5-billion); biomass plant (R2-billion); pipe manufacturing plant (R300million); paint manufacturing (R16-million); logistics services (R20-million). A number of big projects have been undertaken in recent years in the province, or have been approved for implementation in the near future. These so-called “catalytic projects” are big enough to stimulate other sectors of the economy and to contribute significantly to regional GDP. Perhaps the biggest recent announcement was the decision by the national Department of Energy (DoE) that one of the country’s first two gas-to-power plants to be constructed under the Independent Power Producer Programme, is to be allocated to Richards Bay. A private partner will invest in and run the plant which will be located within the RBIDZ. This is not only big news in terms of the amount of money being invested and the number of jobs that will be created, it has the potential to create a whole string of downstream businesses supplying gas, servicing gas and fired by gas.
Published on May 3, 2013
KwaZulu-Natal Business 2016/17 is the eighth edition of this highly successful publication that has since its launch in 2007 established its...