Minister of Trade and Industry, Dr Rob Davies praises R1.9bn plant investment by Sasol
The Minister of Trade and Industry, Dr Rob Davies says the investment of R1.9 billion into an ethylene purification plant which will contribute significantly in providing the South African plastics manufacturing industry with an additional 47 000 tons of polyethylene annually positively signifies confidence in the South African economy.
Minister Davies was speaking at the inauguration of Sasol’s new ethylene purification unit, known as the Ethylene Purification Unit 5 (EPU5), in Sasolburg, yesterday.
“Trade and Industry supports growing investments both by domestic investors as well as foreign investors. We support investments across the board but have particular focus on investments in the productive sectors of the economy as we recognise the importance of value-addition and manufacturing. There is no case in history where a country has transformed from being under-developed to being developed without passing through the industrialisation phase,” said Minister Davies.
He added that Sasol was a strategically significant company in the plastics industry which employs 60 000 people.
“We need to move more expeditiously to promote industrialisation and diversification in the South African economy as the next phase of growth and development in South Africa in particular, and the rest of Africa in general, will be driven by industrialisation,” emphasised Davies.
The ethylene purification unit aims to address the growing demand for polyethylene material. The plant will also ensure better utilisation of Sasol’s existing downstream polyethylene facilities. The Managing Director of Sasol Polymers, Mr Marinus Sieberhagen said the South African plastics industry was a significant contributor to the national economy.
Local demand for polyethylene polymers continues to grow at a rate of 4 to 5% annually. With a rise in new plant capacities and the need to be globally competitive, we recognised the necessity to expand both polymer and ethylene production," he added.
Enquiries:
Bongani Lukhele
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Cell: 079 5083 457
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E-mail: BLukhele@thedti.gov.za
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