Manufacturing has been identified as one of the key sectors for the advancement of economic growth and job creation in South Africa, with the energy sector presenting the biggest opportunity for the Richards Bay Industrial Development Zone (RBIDZ), says RBIDZ COO Muzi Shange.
The RBIDZ participated in this year’s Manufacturing Indaba earlier this month to gain a better understanding of how it can drive higher growth in the manufacturing sector.
“By enabling the beneficiation of the materials in South Africa, we can create jobs, which will assist us in dealing with the triple challenge of poverty, unemployment and inequality that we faced as a country,” emphasises Shange.
He advances that work done so far to establish a liquefied natural gas terminal at the IDZ to address the country’s energy security challenges not only presents an opportunity for Richards Bay but also for South Africa.
Transnet and Dutch terminal operator Vopak are developing the gas terminal that will allow RBIDZ to drive the development of gas-to-power projects. In so doing, the RBIDZ will be able to deliver energy security in support of investments in energy-intensive manufacturing operations.
Interest in the chemicals space has also been growing, adds Shange, with manufacturer of titanium dioxide pigment and other chemicals, Nyanza Light Metals, on track to establish the first titanium dioxide treatment plant in Africa. The company will beneficiate the ilmenite and the titanium slags in Richards Bay to produce high-value products.
Besides the energy sector and metals beneficiation and processing, the RBIDZ’s five priority sectors that will drive investment are rounded out by agriculture and agro-processing, ICT and techno parks, and ship building and repair.