Trade Port to boost KZN exports

first_img7 July 2008Fixed investment in and exports from KwaZulu-Natal province are set to increase with the completion of the R6.5-billion Dube Trade Port – the largest single government infrastructure investment in the province – to the north of Durban.“The catalytic impact of this project will not be confined to the growth node in the costal area north of Durban, but will reverberate across the entire province and position KwaZulu-Natal as a destination of choice for domestic and international tourists,” KwaZulu-Natal Premier Sibusiso Ndebele told delegates at the International Investment Council in San Lameer in May.The council, attended by President Thabo Mbeki, Deputy President Phumzile Mlambo-Ngcuka and Cabinet members, drew on the insights of distinguished international business leaders on how to meet the challenges of economic growth in South Africa.By the time of its completion ahead of the 2010 Fifa World Cup, the Dube Trade Port itself will have contributed an estimated R12.4-billion to the economy and created thousands of new jobs.According to statistics, the Durban port is the busiest port city on the African continent and ideally located to access the international shipping routes between East and West. It is also the largest of South Africa’s seven ports.It handles in excess of 31.4-million tons of cargo a year, with a value in excess of R100-billion per annum – approximately 65% of the value of all cargo going through South African ports.According to a report released by Quantec data, KwaZulu-Natal’s top export destinations in 2005 were the United States, Japan, India, the United Kingdom, the Netherlands and Germany.More than R3-billion has been set aside for investment in Durban port’s infrastructure since 2002 for various improvements that include the construction of cargo terminals, Ndebele said.The province’s second port – Richard’s Bay – is also South Africa’s premier bulk cargo handling port and is one of the fastest growing industrial areas in the province, and the centre of operations for South Africa’s aluminium industry.Trade gatewayNdebele further told delegates that the foreign private companies had invested over R27-billion in the province between 2000 and 2005, enabling provincial economic growth to rise from 1% in 1999 to 5.3% in 2005.Since then, he said, the province had seen further groundbreaking fixed direct investments, while nearly a third of South Africa’s manufactured exports were produced in the province.These include the R2.4-billion expansion of Toyota’s plant outside Durban, a new R2.5-billion plant by United Pulp in Richards Bay, a R2-billion expansion at Sappi Saiccor at Umkomaas, and a R650-million investment by Tata in a steel plant in Richard’s Bay.In addition, an almost R20-billion investment is on the cards in the KwaZulu-Natal north coast for a “city within a city” project, modelled on the Dubai Palm complex in the Arab emirate.“These private investments are particularly encouraging for us and they are aligned to our national industrial policy,” said Ndebele. “KwaZulu-Natal has also recently undergone rapid industrialisation, thanks to its abundant water supply and labour resources.”Source: BuaNewslast_img read more

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Victolero praises Ginebra’s defense in Magnolia loss

first_imgMRT 7 on track for partial opening in 2021 Jordan delivers on promise: 2 Cobra choppers now in PH “I give credit to Ginebra because they played a very good defense, especially when they gave us low percentage shots,” said Magnolia coach Chito Victolero of his team’s struggles against the reigning 2017 PBA Governors’ Cup champions.Ginebra didn’t look like it missed a beat from its championship run, limiting Magnolia to 36 percent shooting from the field and a paltry 18 percent clip from threes.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games openingSPORTSPrivate companies step in to help SEA Games hosting“We had tough shots and they weren’t going in. We can’t convert,” lamented Victolero in his team’s second outing this 2018 PBA Philippine Cup.In contrast, the Gin Kings had their way as they shot 44 percent from the field, with the tandem of Greg Slaughter and Japeth Aguilar making a living down low as they scored 32 of the team’s 46 points in the paint. Don’t miss out on the latest news and information. Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Malditas save PH from shutout Hotel says PH coach apologized for ‘kikiam for breakfast’ claim Tenorio says Ginebra can’t be satisfied with win over Magnolia MOST READcenter_img After 30 years, Johnlu Koa still doing ‘hard-to-make’ quality breads ‘A complete lie:’ Drilon refutes ‘blabbermouth’ Salo’s claims The Fatted Calf and Ayutthaya: New restos worth the drive to Tagaytay “We allowed them to shoot 56 percent from two-points, and most of those were in the paint with Slaughter and Japeth. We had a hard time defending those two big guys and that’s the story of the game,” he said.Despite the defeat, Victolero could still draw positives from this game, especially with Ian Sangalang notching a career-best 25 points on top of 11 rebounds in the loss.“Ian has always been consistent for us since the last conference. I think he can still improve on a lot because he’s just 26 years old,” he said.Victolero sees the long break as a chance for the Hotshots to go back to basics and allow the injured players to heal up as they still await the full recovery of Paul Lee and Marc Pingris, as well as the return of Jio Jalalon and Rafi Reavis to their lineup.“At least, we have a long break to improve on the aspects of our game that we need to improve on. One loss won’t break our conference and I told them that these things happen,” he said.ADVERTISEMENT LATEST STORIES “Luckily for us, we have the time to wait for the other guys to be 100 percent. We’ll wait for Ping, Rafi, and Jio, and also with Paul because I want to see this team as a complete unit and what we can do with a complete lineup. Hopefully, by January they’ll be with us and let’s see how far we can go.”Magnolia’s next game is slated on January 10 against Kia.Sports Related Videospowered by AdSparcRead Next Photo by Tristan Tamayo/ INQUIRER.netBOCAUE — Defense wins championships.Unfortunately for Magnolia, it’s the same title-tested Ginebra defense which doomed the Hotshots in their Christmas Clasico clash at Philippine Arena on Monday.ADVERTISEMENT View commentslast_img read more

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