PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
Getnews Eastern Cape
 
Comments: 1
Article views: 126
 
 
Latest Badges:

 
View all Getnews Eastern Cape's badges.
 

Construction sector could boost province’s performance in 2014

26 June 2014, 07:35

2014 could be the year when the Eastern Cape finally shrugs off the tag of being a minor contributor to the national economy and exporter of human capital and starts to become a significant player.

And it could, too, bethe year in which the unequal development between the west and east of the province and the unemployment and poverty that are the legacy of the former homelands finally starts to be addressed.

 One pointer to the emergence of a new major player in the economy is the growth in the construction industry where employment in the first nine months of last year, grew at a faster rate than in any other province.

 That trend is set to continue.

In the west of the province, for example, the number of people employed on the construction of the Baywest City Mall will increase from the current 600 to 2 000 by the middle of the year, while the various projects connected to the expansion of the Port of Ngqura will create more than 2 000 jobs in this sector.

 In Buffalo City, construction is expected to start on the multi-model OEM in the East London Industrial Development Zone (ELIDZ) that will create 1 300 direct jobs.

To the north east  of the province, the immediate financial problems facing Elitheni Coal have been resolved and the company is now looking to secure long-term financing, possibly from the Industrial Development Corporation (IDC).

 This will allow for the resumption of production at the mine and the creation of a significant number of both direct and indirect jobs.

 Investment in the province’s three ports will be significant.

Total investment in the 2014/15 financial year will be R1.55 billion spread across the three ports, with R267.5 million being spent in East London, R376.3 million in Port Elizabeth and R909.2 million at Ngqura.

Water and Environmental Affairs Minister Edna Molewa provided timetables for the construction of the Umzimvubu hydroelectric and irrigation scheme when she addressed the Integrated Wild Coast Development Programme Summit in November, stating that the clearing of the catchment area would start in April this year.

It also appears possible that work could start on the Wild Coast Highway with the legal challenges close to being resolved.

During the construction phase of the Wild Coast Highway 6 800 direct jobs will be created and 28 100 indirect employment opportunities.

This year will also see the completion of the feasibility study for Project Mthombo, the oil refinery planned for the Coega IDZ and a decision will then be taken on whether to proceed with the Front End Engineering Design (FEED) stage which involves the detailed design.

While the revised Integrated Resource Plan released by the Department of Energy states that any decision on the construction of Nuclear 1 at Thyspunt is likely to be delayed, the focus will be on the exploration of shale gas and what is described as the “Big Gas” scenario.

And that holds enormous prospects for the Eastern Cape.

The overall picture is positive and finally the Eastern Cape appears poised to shed its Cinderella status.

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.
 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
Thulane Che Trosky
The R 6 million Zuma spent.

When making ludicrous decisions neither the ruling party nor any individual seem to really worry of how they are exploiting and misusing state and or taxpayers money. Read more...

4 comments 387 views
Submitted by
Thulane Che Trosky
The PWD and the billions

The Minister of Public Works in the National Assembly tabled a report that the Department which he manages, cannot account for an approximate R 35.9 billion. Read more...

4 comments 256 views
Submitted by
Adv Sphamandla Blose
Our heritage, our culture

Celebrating the importance of the Heritage month, Xhosa traditional clothing is one of the most recognised attire that symbolises the rich culture which brings its own vibrancy to our diversity. Read more...

13 comments 537 views
Submitted by
Vulcan Trekkie
What makes you African? Tackling ...

So what makes you African? Is it the colour of your skin? Is it the continent you where born on? Is it your culture, your language or something else? Read more...

28 comments 515 views
Submitted by
luckyluke
Blind loyalty

What is it that Zuma has that instils the blind loyalty we witness from his most senior appointees in his Cabinet? Read more...

14 comments 384 views
Submitted by
Angela Ford
People just don't care anymore

I was on the train. As it started pulling away, it suddenly came to a stop again. We weren't sure why but a couple of minutes later, we heard that someone was "under the train".  Read more...

24 comments 3786 views

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Deal of the week!

20% off Afrikaans books, music and DVDs. Offer valid while stocks last. Shop now!

Save up to R1000 on Hisense smartphones!

View the large range of Hisense smartphones. Buy today and save up to R1000!

Hot gaming titles – available for pre-order!

Call of Duty: Advanced Warfare Day Zero Edition, Far Cry 4, Grand Theft Auto 5 and more. Pre-order now!

Get a free eBook

Buy 3 eBooks and get the cheapest FREE. Offer valid while stocks last. Shop now!

Bargain box – 60% off

Reduced prices, very limited stock. While stocks last. Hurry and shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on your iPhone Get News24 headlines on your iPhone.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

Calais Website keywords automated by OpenCalais.

 
Interactive Advertising Bureau
 
© 2014 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.