The two industrial development zones in the Eastern Cape at East London and Coega had created 32 936 jobs and attracted investment of R11.1...

The two industrial development zones in the Eastern Cape at East London and Coega had created 32 936 jobs and attracted investment of R11.1 billion by the end of the 2010/11 financial year, Trade and Industry Minister Rob Davies has told the National Assembly.
Replying to a written question, the Minister said 27 412 jobs had been created at Coega and 5 524 in East London.
The Coega IDZ had attracted eight 12 investors and a further eight in the Nelson Mandela Bay Logistics Park worth R9.6 billion, while the East London IDZ had secured 23 investors worth R1.5 billion.
He said for the 2009/10 and 2010/11 financial years, Trade and Industry had directed nearly R1.67 billion in funding to Coega and R571.4 million to the East London IDZ.
The only other operational IDZ at Richards Bay has so far secured one R650 000 investment and created 300 jobs.
Davies said four companies in the East-ern Cape had closed their operations since 2001.
At Coega Sea Ark, a company in the aquamarine sector had started a pilot project in shrimp production in 2007 for which a positive Record of Decision had been issued following an Environmental Impact Assessment.
Davies said the project was not able to proceed “due to a lack of funding from its shareholders and/or other sources to take the project to full-scale commercialisation”.
Three companies in the East London IDZ had closed:
*Wavelengths 150 T/A Sea-Tek started operation in 2007 in the mariculture sector and was liquidated in March 2010 “owing to cash flow problems as well as permit compliance issues”.
*Carcoustic SA (Pty) Ltd, an automotive heat shield producing company had closed in December 2010 on the grounds that the “mother company was consolidating its operations in Europe”.
*ZZZ Distributors (Pty) Ltd, a sanitary ware company that had closed its doors in December last year “owing to diminished trading volumes”.

News editor