DEVELOPMENT: Another Go At Saldanha IDZ
Recent Western Cape Business News
The Western Cape Cabinet has issued its support to the Operational Committee (OpsComm) of the Saldanha Bay IDZ Steering Committee to apply to the Department of Trade and Industry for official IDZ designation and an operator permit.
The Saldanha Bay IDZ Steering Committee is a partnership between all three spheres of government and is represented by the dti, the provincial Department of Economic Development and Tourism, Provincial Treasury, the provincial Department of Environmental Affairs and Development Planning, Wesgro and the Saldanha Bay Municipality.
The OpsComm, which is chaired by Wesgro, received a mandate from the Agency’s Board of Directors to proceed with the registration of a wholly-owned subsidiary company, called the Saldanha Bay IDZ Licensing Company (LICO). The Saldanha Bay IDZ LICO will be the legal vehicle through which the application for IDZ status is sought.
In order for the application process to be completed, the OpsComm has incorporated public comment which it has received and is now finalising the business case.
The feasibility study concentrated on the three potential industrial clusters identified in the pre-Feasibility study which was completed on September 2009:
• A Renewable Energy Production and Manufacturing Cluster
• An Oil Supply/Base Hub servicing the Oil and Gas Cluster and a Maritime Ship Building and Repair Cluster, and
• A Steel and Minerals Production and Manufacturing Cluster.
The feasibility study, in turn, has outlined the following six projects as holding the highest market potential for economic growth and development in the above-mentioned clusters:
• Marine and Repair Facilities,
• The establishment of an Offshore Supply Base for the Oil and Gas sector,
• Hot Briquetted Iron manufacturer,
• Titanium and Zircon processing, and
• A renewable energy industry (solar water heating)
The feasibility study found that after 25 years, an IDZ in Saldanha Bay would generate a minimum annual return of R11.2 billion for the economy and would create 12 000 sustainable jobs. Under the high scenario, it will generate an annual economic return of R31.6 billion and sustain 29 000 jobs. The study also found that there was sufficient non-environmentally sensitive land upon which the development could take place.
The Western Cape Government initiated the process of creating an IDZ in Saldanha Bay in 2008 to catalyse economic development in the province. The proposed IDZ will be a world class hub for national and foreign direct investment and will boost export-oriented manufacturing industries in the region.
This IDZ is a key component of our plan to kick start the economy of the Western Cape and stimulate job creation in our region. In light of the benefits that an IDZ will bring, we are moving with a sense of urgency to conclude the processes required to set it up. At the same, we are engaging serious players in the economy who have expressed an interest in what the IDZ will offer. We are standing behind our commitment that we made to creating this IDZ, and are pleased with this latest step in the process as it brings us closer to getting national cabinet ratification by the end of the year.
Business News Sector Tags:
Fax 2 Email
Study IT Online
Work from Home