As part of the MEC for Economic Development Tourism and Environmental Affairs (EDTEA) KwaZulu-Natal, Siboniso Duma’s commemoration of 100 days in office, he is visiting strategic projects initiated to stimulate the economy and contribute to the course of rebuilding the province. 

On Tuesday, the MEC conducted an oversight visit at the Richards Bay Industrial Development Zone (RBIDZ) to inspect the progress of two catalytic investment projects.

He viewed advanced construction at the R1,5 billion palm oil refinery Wilmar Processing SA. It is envisaged to be operational by the last quarter of the financial year 2023/24. He also visited Nyanza Light Metals to view the operation product testing and development centre which forms part of the first phase of the R4,5 billion titanium pigment processing plant.

In his remarks on the visit, the MEC emphasised the importance of working tirelessly to see the completion of these projects as they are significant in ensuring a sound and thriving Province with opportunities for skills transfer, enterprise development and job opportunities.

The RBIDZ states that these projects continue to play a significant role towards ensuring sustainable development and demonstrate the RBIDZ’s efforts to deliver on its mandate amid the weakened economy post the global pandemic, social unrest and recent KZN floods; whilst also playing a value-add role towards strides directed to rebuilding the economy, inclusivity, job creation, skills transfer and development, faster growth as well as positioning the province of KwaZulu-Natal as a preferred investment destination locally and internationally.

Domestic and foreign direct investment and catalyst investments by their nature have proven to be key drivers of economic stimulation and employment creation by virtue of their labour intensive and absorptive in nature and improve domestic production.