A new automotive hub called ‘Tshwane Automotive hub‘ has been launched in South Africa. The hub is expected to provide 6,700 jobs to South Africans.
The plan to construct an automotive hub by the South African Government was revealed at the South African Investment Conference in 2018. It is also part of the expansion of the Tambo International Airport ORTIA special Economic Zone(SEZ).
The automotive-based in the city of Tshwane will position the city as an automotive city and attract new automotive component manufacturer to South Africa.
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The South African President, Cyril Ramaphosa during the launch of the new automotive hub explained that the project will gulp over R3.3 billion investment. This will be used to create jobs for South Africans, thereby reducing the rate of unemployment in the country.
Amidst other things, the Tshwane Automotive hub will help to:
- Develop infrastructures that are required to support the growth of industrial activities in South Africa;
- Attract foreign and domestic direct investment;
- Promote regional economic development and
- Broaden the economic participation of small, micro, and medium enterprises.
Nine new companies are scheduled to set up their factories in the City of Tshwane by 2021.
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