Zuma launches R600m Chinese-funded truck assembly plant

2014-07-10 12:38

Cabinet has announced the launch of a new R600 million truck assembly plant to be built at Coega in the Eastern Cape.

Communications Minister Faith Muthambi today in Pretoria said the plant, funded by China’s First Automotive Works (FAW) Corporation and the China-Africa Development Fund, would attract investment and generate jobs in the region.

“Cabinet welcomes the launch today by President Jacob Zuma of the FAW assembly plant and operation in the Coega Industrial Development Zone,” she said.

Muthambi said this was one of the largest investments by a Chinese company in South Africa.

The minister said benefits to the region and the province would “include generation of foreign direct investment that will in turn create sustainable jobs and provide opportunities for skills development and training”.

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