South Africa's East London industrial development zone (Elidz) is calling for a new two-berth container terminal to be built at an estimated cost of ZAR5billion (US$708.7 million) to raise the capacity of the existing port and boost the zone's prospects for securing greater investment. The existing port has a capacity of 97,000 TEU, though it is only said to handle 67,000 TEU because it can not accommodate larger vessels and has no quayside container crane, critics told South Africa's Business Report.
A new facility will require land reclamation, dredging, container handling equipment and new piers if it is to capture a container business that is expected to grow to 250,000 TEU in the next decade, they said.
To secure government funding for the proposed port expansion, a lobby group has been formed with representatives from the NPA, Elidz, the Eastern Cape Development Corporation and Buffalo City. The zone has so far attracted ZAR755 million in investment from the logistics, automotive, farming and component manufacturing industries, creating 1,118 direct jobs.
The zone's automotive supplier park will among others house key suppliers for Daimler Chrysler's new W204 C-Class Mercedes Benz. These suppliers are expected to start operating in the next few weeks.
The automotive sector is said to be a crucial growth engine for the province's economy as half of the 110,000 people employed in the sector nationally were in the Eastern Cape.
A new facility will require land reclamation, dredging, container handling equipment and new piers if it is to capture a container business that is expected to grow to 250,000 TEU in the next decade, they said.
To secure government funding for the proposed port expansion, a lobby group has been formed with representatives from the NPA, Elidz, the Eastern Cape Development Corporation and Buffalo City. The zone has so far attracted ZAR755 million in investment from the logistics, automotive, farming and component manufacturing industries, creating 1,118 direct jobs.
The zone's automotive supplier park will among others house key suppliers for Daimler Chrysler's new W204 C-Class Mercedes Benz. These suppliers are expected to start operating in the next few weeks.
The automotive sector is said to be a crucial growth engine for the province's economy as half of the 110,000 people employed in the sector nationally were in the Eastern Cape.