Page 19 - KZN Top Business Portfolio 2024/5 - ebook

Among its major investors are global firms such as
Samsung, Mahindra, DHL, Chem Energy, and PepsiCo-
Futurelife.
A notable investment is the R1.1 billion automotive
components manufacturing facility at Dube TradeZone
2, a joint venture between Toyota Tsusho Africa and
Ogihara Thailand Corporation. The facility, covering
32,000m², will produce pressed steel components
for Toyota South Africa Manufacturing (TSAM) and is
scheduled to begin operations by June 2025. This marks
a significant milestone in KwaZulu-Natal’s burgeoning
automotive sector.
“We are exceptionally pleased that after an extensive
site selection process, Ogihara SA decided to locate President Ramaphosa, presided over the launch ceremony for the
start of preferential trade under the African Continental Free Trade
its state-of-the-art manufacturing facility at Dube Area (AfCFTA) for South African companies.
TradePort’s TradeZone 2,” said Hamish Erskine, CEO of
Dube TradePort. “We believe this is because we can said the establishment of the cold storage facility
meet the private sector’s needs for a stable environment underscores MSC’s commitment to enhancing supply
that is secure, well-operated, and sustainable, with chain reliability for perishable goods, and playing a
green energy solutions becoming increasingly crucial pivotal role in facilitating the international trade of
for international supply chains and production.” temperature-sensitive products worldwide.
Speaking at the event, Andrew Kirby, CEO and Sarno said South African exporters are set to benefit
President of Toyota South Africa Motors, says, “This from a comprehensive logistics solution enabling
joint venture marks a significant step towards our their perishable products to reach global markets
Local Value Addition (LVA) improvement strategy by seamlessly via sea transport.
localising the production of these critical components. The signing of the African Continental Free Trade Area
The inclusion of Ogihara SA in our local manufacturing (AfCFTA) trade shipment agreement at the Port of
ecosystem will not only create new job opportunities Durban further underscores KwaZulu-Natal’s strategic
but also enhance our capabilities in producing high- importance in facilitating continental trade. This
quality body parts for the automotive industry. agreement opens new avenues for economic growth
This collaboration exemplifies our commitment to by improving access to African markets and bolstering
localisation and underscores the possibilities for the province’s role as a trade gateway.
growth and development in the KZN province.”
Construction Sector
Additionally, new investments in the Richards Bay KwaZulu-Natal’s construction sector, which
Industrial Development Zone (RBIDZ), particularly in the includes activities such as building construction,
chemical and plastics sectors, are driving job creation civil engineering, and specialised construction
and export growth.
services, is a key contributor to infrastructure
New foreign direct investment (FDI) from top global development. However, the sector has faced
shipping and logistics companies, such as CMA-CGM, significant challenges, including the activities of the
is further strengthening the province’s logistics sector. “construction mafia”, a group that illegally occupies
and extorts construction sites. Despite this, major
Of note, the Mediterranean Shipping Company SA’s
(MSC) R350 million investment in KwaZulu-Natal will projects continue to progress, contributing to
go a long way in boosting the provincial economy and economic growth and job creation.
creating jobs for the local community. Key developments include:
MSC’s new cold storage facility at Cator Manor in Whetstone Development in the northern Aerotropolis,
Chesterville, Durban has the capacity to accommodate which has attracted R2.5 billion in private sector
10 000 pallets and is poised to meet the growing investment and created 1,700 new jobs. This
demands of the cold logistics market and ensure development is a visible contributor to the region’s
the preservation of temperature-sensitive goods, economic activity and future growth.
guaranteeing their quality during transit. Giba Business Estate, a R1.9 billion project spearheaded
MSC South Africa Chairperson, Captain Salvatore Sarno, by Sultex Holdings, aims to rejuvenate Giba Business

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