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Massive investment boost for Dube TradePort

Jointly, investments total R330-million and will see at least 350 jobs created.

Investments of R330-million earmarked for Dube TradePort will significantly boost the North Coast economy and create much-needed employment opportunities.

Three major projects identified form part of president Cyril Ramaphosa’s plans to achieve a nationwide investment target of R2-trillion over the next five years.

Over the next few months Futurelife Health Products will consolidate its manufacturing operations into one production facility at Dube TradePort’s TradeZone precinct.

The value of the investment is reportedly R75-million and will create 300 new jobs.

The official launch will take place later this year, during which more information will become available.

The largest investment will come from Yangtze Optics Africa Cable (YOA Holdings), the leading manufacturer and supplier of fibre optic cable for southern Africa’s telecommunications industry.

YOA first set up shop at Dube TradePort in 2016 but will spend R155-milion on the planned expansion of its fibre optic manufacturing facility which will bring with it 50 new specialised jobs.

The project is set to be completed in the second quarter of next year.

Printing and packaging company, Durban-based Siyakha Imperial Printing (SIP), will invest about R100-million for the production of flexible packaging for the fast-moving consumer goods industry.

The company aims to strategically position itself to better service the South African Development Community region, after setting up operations at Dube TradePort.

iLembe Chamber of Commerce CEO, Cobus Oelofse, said the confidence of investors in the region was admirable.

“Considering the negative business sentiment characterising the manufacturing and assembly sectors in the iLembe district and the sixth month of contraction of South African manufacturing activity, the steepest since July 2021, the delivery of these investments pledged for Dube TradePort should be welcomed and applauded.”

Oelofse said the investments were a stark reminder of the conditions conducive to successful manufacturing ecosystems, and which environments were needed for the reindustrialisation of the region.

The Dube TradePort Corporation is also planning to establish warehouses of 14 000 m² and 25 000 m² respectively to respond to the demand for warehousing space.

Dube TradePort is a Special Economic Zone (SEZ) comprising a purpose-planned precinct to promote industrial and commercial development in the region to attract domestic and foreign investment.

 


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