Eastern Cape business has welcomed the announcement by Mercedes Benz SA of a R 10 billion investment.

The investment has been announced by the company’s top brass in its East London plant in an event that was attended by President Cyril Ramaposa and a number of ministers.

This as the company plans to expand its footprint and production in East London.

Mercedes Benz SA says it coincides with the 60 years the company has been in East London.

Mercedes Benz board of management, Markus Schaefer says, “We are celebrating 60 years of Mercedes Benz cars produced here in East London, and to make this plant ready for the future we will invest an unbelievable figure of 600 thousand euros at this site… that means we are investing ten billion rand. This means we believe we can help to even build a better South Africa.”

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