Foreign investors are all looking at Middelburg to capitalise on value for their money.

This was the unambiguous message echoed by all speakers at the local Chamber of Commerce and Industry’s annual Eco-Industrial Zone Investment Conference, which was hosted at the banquet hall yesterday.

The highlight of the summit was the signing of an investment deal between Nkangala Energy and Hyundai.

The deal is worth R5b in forex influx.

Nkangala Energy has plans to construct a gas power plant with a capacity of 860MW.

The Steve Tshwete Local Municipality will receive the direct investment of R5b from the project.

Approximately R120m will be invested by Nkangala Energy in skills development and training.

Nkangala Energy plans to aid in the shift from coal to renewable energy, generating 1 200 temporary jobs during construction and 520 permanent jobs in the value chain.

The investment signals ongoing foreign interest in the town, with Veralogix saying the Indian manufacturer of Mahindra has already committed to establishing a Mahindra assembly plant in town.

The conference was held in partnership with Columbus Stainless, Absa, the Veralogix Group, and the Steve Tshwete Municipality.

The event focused on exploring investment opportunities and driving sustainable industrial growth.

Chamber CEO Anna-Marth Ott said the conference marks a shift towards the creation of Special Economic Zones (SEZ) in Middelburg, where businesses in such zones take responsibility to package and promote their respective zones, wherein funds, skills and materials can be shared to boost the zones, and amplify foreign and domestic investment.

Ott invites all local businesses to register with the chamber to form part of the planning committee for SEZ establishment.

The chamber has already done all the necessary research, including draft by-laws, to forge ahead with SEZ establishment.

Buy-in from local businesses is, however, crucial to ensure the momentum of the project.

A pre-conference tour on Thursday offered participants a chance to visit Columbus Stainless and Duvha Power Station.

Other speakers included Absa executives, the Spanish Chamber of Commerce and Mayor Mhlonishwa Masilela’s office was represented by MMC Grace Mathibela.

• More details on the summit will be published in next week’s Middelburg Observer.