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Manufacturing news

Davis: offering Cuba R70m in credit bolsters SA job opportunities

8 Nov 2012 15:59
According to a Department of Trade and Industry statement, Minister of Trade and Industry Rob Davies met in Cuba with the Vice-President of the Cuban National Institute of Water Resources, Aymee Aguirre Hernandez, to discuss the economic assistance package South Africa is offering Cuba.
According to the assistance package, Cuba will use the first tranche of a R70m SA credit line to manufacture in Cuba pipes made of South African rare raw material raisins and use them to expand Cuba's water infrastructure - including drinking water and irrigation pipes.

Minister Davies said that using South African material to produce the pipes in Cuba will lead to the expansion of Cuba's manufacturing plants in the medium to long term. Davies added that the South African supplier also intends to expand production of raisins to meet Cuba's demand. "This," Davis said, "will create job opportunities in South Africa," the Department of Trade and Industry statement said.

Read the full article on http://allafrica.com.
    
 
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