Minister of Trade and Industry Rob Davies has welcomed some serious investment at the Dube Trade Port in Durban, courtesy of a Chinese company.
Yangtze Optics Africa Cable will develop a fully-functional fibre-optic cable manufacturing facility at the port, worth a whopping R150-million.
“This investment is a boost in terms of our bilateral relations with China and the commitment made by the Chinese government towards building industrial capacity on the African continent,” says Davies.
This time last year, several agreements were reached at the Forum on China-Africa Cooperation, while just last month, a Bi-National Commission was held with China. The investment is one of several fruits of the countries’ relations.
The Minister says that the facility will supply South Africa’s ICT market, as well as those of other developing African nations.
“To date, YOAC has recruited 42 employees of which a significant majority of them was sourced from local communities adjacent to the King Shaka International Airport,” he says. “YOAC intends to create a further 80 employment opportunities in 2017.”