kznlogo thumb100 Business Report writes that Tongaat Hulett is going to invest R50 billion in the next 15 years in the development of the Sibaya Coastal Precinct in a move that would boost the local economy and create jobs.  

The targeted land is about 25km north of Durban and is over 1,000 hectares.  Tongaat Hulett’s CE, Peter Staude, said the precinct would act as the catalyst in unlocking the potential of significant regional development, infrastructure and  job creation.  KwaZulu-Natal (KZN) MEC for economic development, tourism and environmental affairs, Sihle Zikalala, commented:  “The investment by the private sector is critical in job creation because we know that 30,000 permanent jobs will be created and over 270,000 temporary construction jobs throughout the duration of the project.”  The construction of service infrastructure started in node one in August, with node five to follow soon.

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