Dube TradePort chief executive Saxen van Coller
A multibillion-rand “mega industrial integrated township” is on the cards for a site near King Shaka International Airport following the signing of a R2-billion agreement between Dube TradePort Corporation and the Indian-based conglomerate Action Group.
This was one of several major agreements and business deals announced at a business forum at the Brics (Brazil, Russia, India, China, South Africa) summit in Durban.
The agreement marks the first major foreign direct investment into the Dube TradePort zone, which surrounds the airport, and has been earmarked by the government to become one of South Africa’s new special economic zones for industrial development.
Dube TradePort officials said the landmark agreement could see a further R20 billion in foreign direct investments attracted into the hi-tech industrial park to house manufacturing, logistics and export-related companies.
The 240 hectare site earmarked for the development is adjacent to the Dube TradePort precinct. The provincial parastatal has been buying up neighbouring land parcels around the airport from land owners such as Tongaat Hulett Group for the development of a future ‘aerotropolis’ or airport city.
“We regard this as a critically important milestone in the development of the aerotropolis. The signing of this memorandum of understanding is indicative not only of the business potential of this region, but also the confidence investors are showing in Dube TradePort and its environs,” said Dube TradePort chief executive Saxen van Coller.
“Both Dube TradePort and Action Group believe implicitly that (an) industrial township will greatly complement the current trade port and King Shaka International Airport, further boosting development and investment into the precinct,” she said.
Action Group managing director Ajay Aggarwal said that the main intention was to provide easy access and a one-stop shop for international investors, manufacturers and industrialists to spread their business interests in South Africa.
In a statement, Dube TradePort said the Action Group – was a “new alliance partner”. The group is a highly diversified conglomerate with a major presence in India’s real estate sector and key player in the development of industrial parks, special economic zone’s, the retail sector, offices and hotels, as well as residential developments.
The group has since diversified becoming a leader in other economic sectors, including electronics, chemicals, healthcare, steel and power, manufacturing and coal mining, amongst other interests.
Dube TradePort said the new industrial township would be developed in several phases.
