Two projects worth R1 billion under construction in the Coega IDZ
The Coega Development Corporation (CDC) announced on Thursday that work has commenced on two of the projects worth over R1 billion at the Coega IDZ.
The CDC earlier this year announced that investment projects worth over R1 billion are ready for implementation in the Coega IDZ. The three projects which include a R650-million manufacturing cement grinding Plant, a R71-million readymix concrete Plant, and a R350- million Gas Cylinder Plant.
The two projects currently under construction include, MM Engineering a R350-million Gas Cylinder Plant which, when in full operation, will create over 70 sustainable jobs with a focus on young graduates. Production will include over 1.5 million gas cylinders. The second project under construction is Kenako Concrete a R78-million readymix concrete manufacturer. The plant will create over 59 sustainable jobs.
“We look forward to the start of construction on the third investor, a R650-million cement grinding Plant,” says Sadick Davids, CDC Business Development Manager – Metal and Manufacturing.
As is the policy of the CDC in ensuring gainful participation of emerging contractors through 36% of the contract value going to Small Micro Medium Enterprises (SMME). Kenako Concrete is a 100% black-owned SMME company and one of the first black industrialists in the Eastern Cape,” says Unathi Maholwana, CDC SMME Programme Manager.
CDC ensures that the local environment benefits directly from investments through job creation. As a result of the construction taking place at both sites, over 90 people from the Nelson Mandela Bay’s most impoverished communities are benefiting directly.