POLOKWANE – Chinese investment in Limpopo is set to grow by some R460 billion following a visit to China by premier Stanley Mathabatha and a delegation including the economic development, environment and tourism (Ledet) MEC Seaparo Sekoati and and agriculture and rural development MEC Joy Matshoge. The delegation is expected back in the province tomorrow (Friday).
One business relationship that was cemented during the visit was between the province and the Jidong Development Group, a leading developer of cement plants and the largest cement producer in Northern China.
This relationship has borne fruit in the form of a R2 billion cement manufacturing plant that will be built near Northam in the Thabazimbi area. Initially, 2 500 tons of cement will be produced per day, but the factory will have the capacity to significantly increase production according to market demand.
Jidong, BEE company Women Investment Portfolio Holdings Limited, China Africa Development and Continental Cement will be the stakeholders in this endeavour.
The consortium will send 100 South Africans to China for on-site training during the construction of the manufacturing plant.
Another project, which will provide permanent job opportunities for 17 000 people in Limpopo, was also confirmed. The project is worth R458 billion and will be in the Musina area.
Provincial government spokesperson, Phuti Seloba, said the project would go a long way in enhancing the economic situation of Limpopo. “It will create more sustainable jobs and ensure the province benefits through the advanced technological expertise that the People’s Republic of China is known for,” he said. Ledet also signed cooperation agreements with the business community in Nantong and a cooperation agreement with the province of Henan.
According to Seloba, most of the potential investors are expected to be in Limpopo by December.
