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Saldanha Bay draws a strong investor interest

Saldanha Bay draws a strong investor interest

THE Saldanha Bay Industrial Development Zone 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.

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

“The Saldanha Bay IDZ Licencing 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 operators, ship repair, engineering and market support,” said Minister Winde.

Final negotiations for lease agreements are taking place between the Licencing Company and two international oilfield service companies and a South African rig repair firm.

“In some of the most exciting developments, the Licencing Company is in talks with an international consortium to develop a rig module building facility. We are also aware of a R200m 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,” said Minister Winde.

Minister Winde said the Western Cape Government had invested R25m over a five-year period in the process of creating 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.”

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