R4,5 billion titanium beneficiation plant to open in Richards Bay
MEC for Economic Development, Tourism and Environmental Affairs in KwaZulu-Natal Sihle Zikalala has on Tuesday opened a R4.5 billion titanium beneficiation plant in Richards Bay.
The construction of the plant is expected to commence next year, while production is expected to begin in late 2019. The Department of Trade and Industry (dti) extended a grant of R17,1 million to the company for feasibility studies and has also approved an investment allowance of R900m.
“We are very excited about this project because it will have a huge impact on our economy and it will also create 550 permanent skilled jobs‚ 1‚200 indirect and 800 jobs during construction,” said Zikalala.
The Department of Trade and Industry (DTI) extended a grant as it will have a huge impact on the economy.
Meanwhile, the African National Congress (ANC) in KwaZulu-Natal welcomed the announcement of a R4.5 billion investment at the Richards Bay Industrial Development Zone (RBIDZ).
Mdumiseni Ntuli ANC Provincial Spokesperson stated that despite the country being declared as in junk status he commend the leadership of both district and local municipalities for working together to ensure the realization of this important project.
"We welcome the news that about 550 permanent jobs will be created when the Nyanza plant is operational and that 1 200 indirect and 800 direct jobs will be created during construction” said Ntuli.
He added “we note the determination of the ANC-led provincial government to steam ahead with the implementation of the radical economic transformation and we welcome the undertaking by Cde Zikalala and the international partners that local SMMEs, co-operatives and other small players will be contracted as suppliers and contractors” he said.
At the Media Briefing were Mduduzi Mhlongo, Umhlathuze Municipality Mayor, Nonhle Mkhulisi, King Cetshwayo District Municipality Mayor, Mike Burell, Ambassador Of New Zealand, Pumi Motsoahae,CEO-RBIDZ, Sihle Zikalala, MEC- EDTEA, Sherif Ibrahim, Avertana, Donovan Chimhadamba, CEO-Nyanza Light Metals.