Port Ngqura at Coega
Port Ngqura at Coega. Picture: SUPPLIED

THE Coega Development Corporation (CDC)‚ which operates the government-owned Coega Industrial Development Zone (IDZ) in Nelson Mandela Bay‚ says it is hoping to hear more about the progress of projects like the Mthombo oil refinery and other "game-changing projects" during President Jacob Zuma’s state of the nation address.

Unit head of marketing and communications Ayanda Vilakazi said the corporation was aware of the weak global economy having an adverse effect on the economy of the country. SA had seen the rand depreciate to R15 to the US dollar.

In addition‚ even though the integrated investment projection from SA was positive‚ the United Nations Conference on Trade and Development (2015) had announced that foreign direct investment into SA in 2015 had dropped by 74%. Furthermore, the lower price of oil had not benefited SA’s economy as a result of the volatility of the rand.

"Some of the statistics we face daily seem to paint an insurmountable challenge for the country. However‚ as the CDC, we remain resolute in contributing positively to the needs of the republic‚" said Dr Vilakazi.

He said that in the 2014/2015 period‚ the CDC had created 14‚765 jobs (62‚142 since inception) through projects in the IDZ and its infrastructure development programme.

Through job creation, the CDC had touched over 6-million people, equating to about 10% of the country’s population. In addition‚ the CDC had 31 operational investors with a combined investment value of R6.44bn as at 31 March 2015.

Just recently‚ projects at the IDZ that had become operational included WNS, a call centre that had afforded over 600 jobs. Coega Dairy and Coega Cheese — a R25m investment — had contributed 350 jobs, while the Dedisa Power Peaking Plant — a R3.5bn investment — had created over 1,490 jobs.

"The above projects are an earnest contribution by the CDC in ensuring that the country is able to turn the tide sooner than later‚" Dr Vilakazi added.

TMG Digital