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New R1bn Cato Ridge metal coating facility
SAinfo reports that Trade and Industry Minister Rob Davies stressed the importance of the steel industry to South Africa's economic development.
The minister officially opened Mauritius-based Safal Steel's new R1-billion metal coating facility in Cato Ridge, KwaZulu-Natal. "This investment, supported by the Department of Trade and Industry (DTI) and in which the Industrial Development Corporation also participated, clearly demonstrates Safal Group's confidence in South Africa as an investment destination and the maturity of our steel industry," Davies said.
He said the steel industry was one of largest manufacturing sectors in South Africa's economy and critical from an economic development point of view. The Cato Ridge metal coating facility is manufacturing and supplying coated steel roofing to both the local and global markets, Davies said. "The facility has already created 370 jobs, mainly employing people from local community, Durban and Pietermaritzburg." According to SAinfo, the facility has a capacity of 150 000 tons a year. There are plans to double the volumes to 300 000 tons in the near future.
Read the full article on www.southafrica.info.
