Toyota SA’s Prospecton plant is to receive a R6.1 billion investment which will go a long way to create jobs and boost the economy of the province.
On Tuesday, 24 May President Jacob Zuma opened the plant, which will manufacture new Toyota Hilux and Fortuner models.
The investment in the production of the new models supports more than 4,000 jobs while total employment in the plant exceeds 8,000 jobs.
During the State of the Nation Address in February this year, President Zuma announced that the support provided by government through the Department of Trade and Industry had attracted investments of over R25-billion in the automotive industry in the past five years and that the investment was beginning to bear fruit.
The investment by the Japanese manufacturer Toyota is a demonstration of the continued confidence that global automotive producers have in South Africa as an investment destination and the supportive policy environment that the country offers.
President Zuma launched the manufacturing plant as part of the implementation of the Nine-Point Plan he announced last year to grow the economy and create jobs.
One of the pillars of this plan is a higher-impact Industrial Policy Action Plan (IPAP) that focuses on increasing manufacturing-based value addition, employment creation and export-intensity.
“The opening of the plant is a huge, positive injection to the local economy and with nearly 4,000 new sustainable work opportunities, it demonstrates international confidence in the Durban economic basin and furthermore in the province,” said Durban South Business Forum (DSBF) president, Aart Verrips.
“The development will mean significant opportunities for local business and have a huge impact on potential international investor decision processes.
The DSBF and AHi KZN congratulate Toyota for choosing Durban South as the manufacturing home supporting their global supply of these fantastic vehicles.”
