Saldanha Bay finally a development zoneDate posted: 09.10.2013 | Author: Denis Stupan
After years of discussions, Saldanha Bay is finally to become an Industrial Development Zone (IDZ). President Jacob Zuma will launch the Saldanha Bay development zone and handover the operator permit on 31 October 2013.
Saldanha Bay IDZ is strategically located to serve the large Oil & Gas sector on the African continent due to an increasing number of oil rigs requiring maintenance, and their traffic flow passing by the West Coast to the East Coast of Africa.
The sectoral focus on oil and gas services will include maintenance and repair, manufacturing, supply and other services. The IDZ is likely to attract foreign direct investment worth approximately R9.3bn over 25 years.
Designated as an IDZ, Saldanha Bay will be attractive to investors because of various benefits.