Saldanha Bay IDZ on the West Coast is drawing strong international interest

January 21, 2014 by: admin

oild rigs and ore rail line saldanha bayThe Saldanha Bay industrial development zone (IDZ), in the Western Cape, is drawing strong international interest, with several lease agreements signed and a surge of global oil and gas companies negotiating joint ventures with South African firms.

Western Cape Minister of Finance, Economic Development and Tourism Alan Winde said in a statement on Thursday that the Saldanha Bay IDZ, which was officially launched late last year, was off to a good start.

“The Saldanha Bay IDZ licensing company has signed six lease agreements with international and South African oil and gas companies. These include firms specialising in oilfield services, oil rig operations, logistics, ship repair, engineering and market support,” noted Winde.

Final negotiations for lease agreements were taking place between the licensing company and two international oilfield service companies as well as a South African rig repair firm.

“In some of the most exciting developments, the licensing company is in talks with an international consortium to develop a rig module building facility. We are also aware of a R200-million investment by a global oil servicing company which is set to create 300 jobs. Several leading international companies are increasing their staff numbers in their South African companies,” added Winde.

Details on individual companies were bound by non-disclosure agreements and could not be released at this stage.

Winde said the Western Cape government had invested R25-million over five years to create the IDZ.

“This is the culmination of years of collaboration between all spheres of government and the Saldanha Bay community. The IDZ has the potential to become one of the most important levers for jobs and economic growth for the Western Cape. Early indications are that it will indeed be a major catalyst for foreign direct investment and increased employment opportunities for our residents in the medium to long term,” he concluded.

source engineeringnews.co.za

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