WASHINGTON: Transnet National Ports Authority has allocated R7bn to build new port facilities to grow South Africa’s ocean economy.Two hundred jobs have already been created in new port facilities. Over the last 12 months, existing ports were refurbished and maintained, the Economic Sectors, Employment and Infrastructure Development cluster said in a statement.
The cluster held a media briefing in Cape Town, which was chaired by Rural Development and Land Reform Minister Gugile Nkwinti. The cluster said work to grow the ocean economy is gaining momentum.
“Through the public-private partnership to establish Saldanha Bay as an oil and gas hub, an investment of R9.2bn has been realised, which will be utilised over the next five years. “With 14 licences issued for oil and gas exploration, drilling of two exploration wells for potential oil and gas finds will take place along the South African coast. The investment in gas infrastructure has commenced and will contribute to the energy security,” said the cluster.
Work on the offshore supply base has already commenced, which will see Saldanha Bay attracting oil rigs for maintenance and repair. This will create secondary job opportunities for surrounding communities.
According to the cluster, the boat building sector has been revitalised, leading to 500 direct jobs and 3,000 indirect jobs. “An amount of R353m over the next three years has already been unlocked in the ports of Durban and Cape Town for boatbuilding infrastructure through incentives provided by government.”
“Further investments in boat building – catamaran production, workboat ferries for the navy, two offshore mining vessels and tugboats for the ports authority – and a fuel storage facility amount to approximately R3.6bn,” the Economic Cluster said.
