South Africa: KwaZulu-Natal On Investment Into Colenso
BRICS results in R85 billion investment into Colenso in KZN
Shortly after his visit to China, KwaZulu-Natal Premier Willies Mchunu is confident that being part of BRICS will usher in a new era characterised by employment and prosperity. Premier was speaking during a sod-turning ceremony marking the beginning of a construction of a CS Smelter Park in Ladysmith.
Today, the premier was joined by the Leader of Government Business Sihle Zikalala and management of CS Smelter Park and investors from China during this historic occasion. The CS Smelter Park will have a privately owned Coal fired power station which will be developed in three phases of 300MW each.
"Buoyed by this investment Mchunu remarked: "As the provincial government we are excited that the Phase 1 of this project will attract foreign direct investment of about R39, 1 billion."
"What is even more encouraging is that there is an estimated R30 billion annual contribution towards the province's Gross Domestic Products. This will ensure that we maintain our position as the second contributor towards the national GDP behind Gauteng."
"We pay tribute to the President of the Republic His Excellency J.G Zuma who remain steadfast in his resolve to use BRICS to ensure economic liberation of our people, especially those in previously neglected communities."
"This sod-turning ceremony marks an important milestone in our struggle against poverty and underdevelopment. More than 8000 direct jobs will be created for the local community during the construction and more than 12 000 indirect jobs will be created over a five-year period."
"This mammoth project gives this province a strategic asset and challenges us all to ensure that as a nation we derive the maximum benefits from it. This project fits very well with our provincial plans as we want to ensure that energy becomes a tool for the eradication of poverty, inequality and unemployment."
"In addition, we want the electricity supply sector to play a pivotal role in the provincial energy economy. The importance of energy supply sector lie both in improving the quality of life for the previously disadvantaged majority as well as supporting large-scale industrial development."
"It is interesting to note that the assessment which was made in relation to the Millennium Development Goals indicated that the most of the countries which did not meet the MDGs are those with less energy access."
"Power supply has a bearing on the socio-economic development as it allows citizens to use different life enhancement domestic and educational gargets whilst assisting in addressing health related challenges such as maternal, neonatal and child mortalities.
Indeed, without adequate energy, it would be impossible to achieve socio-economic development as all sectors of the economic require adequate energy supply."
Source: KwaZulu-Natal Office of the Premier