RBIDZ pitches for infrastructure development funds
The RBIDZ will propose two local projects for funding from investors
THE Richards Bay Industrial Development Zone (RBIDZ) hopes to win the spotlight with two local project proposals at the provincial Infrastructure Funding Fair to be held later this month.
Hosted by a partnership between the KwaZulu-Natal Provincial Treasury, Deloitte KZN and the KZN Department of Economic Development and Tourism, the event promises municipalities and provincial departments struggling with service delivery backlogs the opportunity to secure funding for multi-million rand projects.
The RBIDZ team will ask for funds to develop two facilities in Richards Bay that will accommodate light and heavy industries to potential investors.
‘The KZN Infrastructure Funding Fair is seen as an ideal opportunity by the RBIDZ to possibly obtain further funding to accelerate the existing infrastructure development programme for Phases 1A (for light industry) and 1F (for heavy industry),’ said RBIDZ Specialist Planner Joe Muller.
Funders invited to attend include commercial banks, development finance institutions such as the Development Bank of South Africa (DBSA), the European Investment Bank (EIB), the German government-owned development bank KfW, Ithala Development Finance Corporation and the Industrial Development Corporation (IDC).
Deloitte Corporate Finance Senior Manager Leon Bezuidenhout says projects on the table range from multi-billion-rand initiatives such as roads, bridges and new schools, to smaller projects that could resolve regional developmental issues and improve the quality of life for local communities.
Smaller projects that will be presented include, for example, the refurbishment of historically poorly maintained and dilapidated sewerage treatment plants, community halls, libraries and museums.
Currently 15 municipalities and provincial government departments have indicated their willingness to present 60 potential projects to the Infrastructure Funding Fair.
It will start on Thursday, 24 October, at the Pietermaritzburg Royal Showgrounds.
