SPECIAL FEATURE The variety of sectors into which these catalytic projects are taking place shows that KwaZuluNatal has a diverse economy. Three examples illustrate this: • Colenso Smelter Park Project (R39-billion in first phase, power generation) • Point Waterfront Development (luxury apartments, hospitality, offices, retail) • Cipla at Dube TradePort (R1.3-billion, bio-similar pharmaceutical manufacturing plant).
the provincial economy and invite foreign direct investment: • Marine Transport and Manufacturing • Offshore Oil and Gas Exploration • Aquaculture • Marine Protection and Ocean Governance • Small Harbours • Coastal and Marine Tourism. Strategies to grow the so-called Oceans Economy will easily dovetail with any and all of the plans to boost the capacity of ports at Durban and Richards Bay and to explore for gas and oil in the Indian Ocean. New sectors Ship-building and ship repairs is an existing industry but it is currently not very big. If oil rigs were Two new sectors are catching the eye of investors to start visiting the KZN coastline on a regular basis, in KwaZulu-Natal. One relates to the ocean, and the this industry would grow exponentially. other is energy generation. The Oceans Economy is one of the focus areas KwaZulu-Natal has a long coastline that stretches that has been chosen by national government to from Port Shepstone in the south to Kosi Bay Nature be part of Operation Phakisa, a focused, goal-driven Reserve in the north. The province’s contact with attempt to jump-start a specific economic sector. the sea has brought obvious benefits: fishing, fine Overall, Phakisa intends creating a million jobs by beaches enjoyed by millions of tourists, and two 2033 and injecting R177-billion into national GDP. great ports – the ports of Durban and Richards The decision to build a cruise-ship terminal at Bay. These ports export vast quantities of minerals the Port of Durban is a good example of the kind (mostly through Richards Bay) and manufactured of decision that is nicely in line with an “Oceans goods (Durban) and serve as an important con- Economy” approach. duit for imports of all sorts. The Richards Bay Coal The KwaZulu-Natal Maritime Institute is part of Terminal exports massive quantities of coal while the a restructured Sharks Board offering training programmes with national ports and logistics operaPort of Durban is the busiest port in Africa. However, planners want to massively increase tor, Transnet. Since 2012, 800 students have been the economic benefits that the ocean can bring. studying maritime-related courses. The other big potential growth area in KwaZuluAn Oceans Economy Review Workshop has come up with a range of subsectors that can help grow Natal is energy. Several licences have been granted for offshore exploration and the hope exists that something will be found, a hope partly based on the close vicinity of the vast gas fields off the coast of Mozambique. If energy does not come from the sea through offshore drilling for oil or gas, there is plenty of potential on land. So far KwaZuluNatal has trailed the rest of South Africa when it comes to the innovative and exciting REIPPPP. Tens of billions of rands and hundreds
KWAZULU-NATAL BUSINESS 2017/18
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...