Phase one of a multi-million rand investment to create an Aquaculture Development Zone within the Coega Special Economic Zone is taking shape. The R206 million project will create more than 900 jobs in the province.
Aquaculture includes the breeding and harvesting of plants and animals in salt or fresh water. It is the fastest-growing food production sector in the world.
“This is the template we are using in the different zones. You first look at the economic analysis to see what is possible and then develop the necessary business case. You then invest in the necessary infrastructure and enabling services while talking to investors. You then confirm with investors and seek out future activity. So, this R206 million unlocks thousands of jobs in the aquaculture sector,” says Kwezi Tiya, CEO of Coega Development Corporation.
Eastern Cape MEC for Economic Development Mlungisi Mvoko says the project has the potential to create 5 600 jobs.
“Remember in 2020 we came to launch after we allocated R206 million to Coega to create this environment for them to be able to attract investors to aquaculture. They have indicated they have people up but they do not have the infrastructure. So, we have put that for two reasons one; to be able to implement some of the projects that are on our blueprint and secondly to create jobs,” says Mvoko.
The EC’s first Aquaculture Development Zone located in Zone 10 of the Coega SEZ will unlock 900 jobs.
Today marked yet another significant milestone in bulk infrastructure development thanks to the PESF R206m investment. @DEDEA_EC #coegasez #coegadevcorp #development pic.twitter.com/Ogd7FpxCeS
— Coega Dev Corp (@coegadevcorp) November 18, 2022
