Region attracts Chinese investors
Zululand expected to see a R4.4-billion foreign investment in renewable energy.
PRIVATE Chinese investors have their eyes set on renewable energy resources in Zululand.
In light of Eskom tariff increases, a solar power partnership between Shanghai-based Zhongji Construction and uThungulu corporates has been solidified.
Hosted by Managing Director MKX Associates Holdings and business facilitator Professor Musa Xulu at the Protea Hotel Empangeni on Tuesday, the partnership is aimed at networking and enhancing district Gross Domestic Product (GDP).
Zhongji Construction International Trade Manager Weiming Feng said they were interested in several local projects and the Chinese Presidency had encouraged relations with Zululand.
This includes project ‘Umthombo We Langa Solar Power’, which has two planned parks, namely the Mthonjaneni Solar Park expected to carry up to 25 megawatt peaks and Ilangalebalele Solar Park. The venture is expected to bring in a total of R4.4-billion in investment.
‘When project construction commences, equipped and experienced labour will be appointed,’ said Feng.
‘We want to minimise labour recruitment from overseas. General workers will be enlisted locally to generate employment opportunities and reduce capital cost for investments,’ Feng told the Zululand Observer.
According to Trade and Investment KZN Project Manager Renewable Energy, Nicholas Coleman, the province is the second largest in terms of economy.
‘Manufacturing comprises 19.9%, which translates to huge consumption of energy. This is where added renewable energy sources – be it solar, wind or hydro – would come into play. The province is developing quickly and there is a need for the proposed investment,’ Coleman said.
Developments
The Chinese investors, who have business operations set up globally, are also interested in additional projects such as a student village and a shopping mall.
The University of Zululand has 15 000 registered students, with just over 4 000 securing accommodation, thus leaving a bed shortage of more than 11 000.
The total capital investment would be R500-million.
The partnership also intends to address green and inner city housing.
