APA-Gqeberha (South Africa) Two multinationals have teamed up to invest R3 billion (about US$158 million) to build a state-of-the-art greenfield automobile manufacturing facility in the Coega Special Economic Zone in South Africa’s Eastern Cape province, a senior official has announced.
Eastern Cape spokesperson Yanga Funani said car makers Stellantis Middle East Group and Africa Automobile Corporation have partnered to invest in the modern facility in Gqeberha city.
Funani said Eastern Cape Premier Oscar Mabuyane was delighted to welcome the latest investment in his province.
“The premier believes that the arrival of the fifth global automotive manufacturer is a huge economic boost for the province, and further positions the province as globally affirmed in automobile manufacturing,” he said.
Funani said this was one of the many investments drives the provincial government had embarked on as it expects to create 1,000 job opportunities in the area.
This investment complements the work that had already been done this term which saw a $9 billion investment in the province, the spokesperson said.
According to him, the automotive industry was seen as the backbone of the provincial economy.
NM/jn/APA