RICHARDS BAY STRIKES TITANIUM |
The deal will culminate in the construction of a
R4,5-billion titanium beneficiation plant in Richards Bay.
The MEC for Economic Development, Tourism and Environmental
Affairs in KwaZulu-Natal, Sihle Zikalala, on Tuesday, 11 April,
officiated at the signing of a major partnership between the
Richards Bay Industrial Development Zone, Nyanza Light Metals
and a New Zealand-based company.
The plant will produce titanium dioxide pigment, a product used
in paint, toothpaste and colourants for food products. The
construction of the plant will commence next year, while
production is expected to begin in late 2019. The Department of
Trade and Industry extended a grant of R17,1 million to the
company for feasibility studies and has also approved an
investment allowance of R900 million.
MEC Zikalala has described the project as a major boost for the
KwaZulu-Natal economy, saying it affirmed the province as a
preferred investment destination.
¡§We are very excited about this project because it will have a
huge impact on our economy and it will also create 550 permanent
skilled jobs and 1 200 indirect and 800 jobs during
construction.¡¨ ¡V Source: SAnews.gov.za
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