By Nangamso Mabindla

THE EAST London Industrial Development Zone (IDZ) announced its first three investors, who will invest a total of R188 million into the IDZ plant on the West Bank, on Friday, 17 June.

Making the announcement, IDZ chief executive Simphiwe Kondlo said it was a proud moment for Buffalo City and for the province.

"It's exciting times for us at the IDZ and Buffalo City. Our strategy is to provide the infrastructure and support to enable companies located in the East London IDZ to be globally competitive."

He said the three new investors had responded to the strategy and would now benefit from immediate access, high-tech telecommunications and close proximity to the port.

The East London IDZ is just two kilometres from the airport and five kilometres from the port.

The zone is finalising the first phase of infrastructure development but Kondlo said it was ready for investors; and the three were the first of many to invest in the West Bank.

Universal Safety Glass, the glass manufacturing company, is making the largest investment in the IDZ. It will invest R156 million, which is expected to create 255 jobs within the next two years.

Pieter Hugo, the general manager, said his company had confidence in the province's growing economy. "The East London IDZ is close to the harbour and the airport. This will improve our logistics chain tremendously. We also believe this investment will open up new markets for our business."

The second investor announced by the IDZ is Wavelengths 150, an abalone farming facility. Its investment, the first in the zone's agro industry cluster, will amount to R21 million, and is expected to create 30 jobs for unskilled labour.

Construction on the Wavelengths 150 site is due to start before the end of June. Speaking about this investment, Kondlo said there was a huge export market for many of the Eastern Cape's agriculture industry products.

"The East London IDZ's Custom Control Area is an ideal location for export-oriented industry as there are a number of benefits offered to these industries."

The local transport and logistics company, Miltrans, will invest R11 million in the zone. "The IDZ has indeed come alive, and we would like to thank the new investors for their faith in [it]," Kondlo concluded.
Source: Buffalo City

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