Ngqura underlines govt commitment to developing ports - Zuma
Officially opening the Port of Ngqura in Port Elizabeth, President Jacob Zuma hailed the state-of-the-art deep-water Port as a major achievement in South Africa's infrastructure development efforts and an indication of its commitment to regional economic growth, Business Live reports.
Once complete, the port will boast a four-berth container terminal, a liquefied natural gas facility as well as a bulk and break-bulk berth. Having invested more than R10 billion developing the facility, state-owned port and freight rail group Transnet has earmarked Ngqura as a transhipment hub that will link trade routes between the East and the West.
"The launch of the port of Ngqura underlines our firm commitment to put economic development, and more specifically infrastructure development, at the centre of our work as we fight poverty, unemployment and inequality," Zuma said, adding that Infrastructure development - along with mining, agriculture, green economy, manufacturing and tourism - are key focus areas "in which we believe we can achieve economic transformation and inclusive economic growth in this second phase of transition," the President said.
According to Business Live, Transnet believes a new container hub can bring substantial benefits to regional economies and cargo owners by reducing total supply chain costs through improved connectivity and service levels. Attracting more shipping lines could also lead to increased competition in the shipping industry. Transnet plans to spend more than R7 billion on accommodating the ore dumps and fuel tanks at Ngqura and another R1 billion in upgrading facilities for automotive shipments at Port Elizabeth.
Read the full article on www.businesslive.co.za.
