A historic multi-billion rand titanium beneficiation project to be unveiled
The MEC for Economic Development, Tourism and Environmental Affairs in KwaZulu-Natal, Mr Sihle Zikalala will on Tuesday, 11 April 2017 officiate the signing of a major partnership between the Richards Bay Industrial Development Zone Nyanza Light Metals and a New-Zealand based company which will culminate in the construction of a R4.5 billion titanium beneficiation plant in Richards Bay.
The plant will produce titanium dioxide pigment, a product used in paint, toothpaste and colourants for food products. The construction of the plant will commence next year, while production is expected to begin in late 2019. The Department of Trade and Industry (dti) extended a grant of R17,1 million to the company for feasibility studies and has also approved an investment allowance of R900m.
Zikalala has described the project as a major boost for KwaZulu-Natal economy, adding that it affirmed the province as a preferred investment destination. “We are very excited about this project because it will have a huge impact on our economy and it will also create 550 permanent skilled jobs, 1 200 indirect and 800 jobs during construction.”
The ceremony will take place as follows:
Date: Tuesday, 11 April 2017
Venue: Protea Hotel Richards Bay Waterfront, Corner of Bridgetown and Pioneer Road, Richards Bay
Time: 9h00
Journalists are cordially invited to cover the event.
Enquiries:
Bongani Shisa Tembe
KZN Economic Development Spokesperson
Cell: 082 327 2600
Sidwell Medupe
Trade and Industry Spokesperson
Cell: 079 492 1774