Two firms to pump R502m into East London Development Zone

The South Africa Deputy Minister of Trade and Industry, Bulelani Magwanishe, and the MEC for Economic Development, Environmental Affairs and Tourism (DEDEAT) in Eastern Cape, Oscar Mabuyane, have welcomed the R502 million investment into the East London Industrial Development Zone (ELIDZ) announced by two local investors, Meek Mines South Africa, and Nulatex Condoms South Africa, which will create 450 local jobs, according to the Chief Executive Officer, ELIDZ, Simphiwe Kondlo.

Meek, which cuts and polishes diamonds mined in Africa for supply to both the domestic and foreign markets, will be investing R423m. The company has taken over an existing facility within the ELIDZ section which includes diamond cutting and beneficiation. Meek plans to create 150 jobs over a five-year period beginning in 2019.  

Nulatex, a pharmaceutical company which will be manufacturing male and female condoms and other latex products from a facility in the IDZ, is investing R79m and plans to create 300 direct jobs beginning 2019.

This first investor in the ELIDZ’s pharmaceutical cluster has already signed an off-take agreement with the provincial Department of Health for the supply of their latex products.

“We are excited about this investment which contributes to the job creation priorities of the province indicated in the provincial economic development plan and investment promotion strategy. We are pleased that 450 people from our province will no longer be counted amongst the unemployed. They will be able to participate fully in the economy and realise their dreams,” said Mabuyane.