Bay growth promises beckon developers
Big spending in Richards Bay draws more investors to town
MORE investors are considering Richards Bay as an investment option as the city promises exponential growth over the next 15 years.
In his address to Johannesburg developers on Wednesday, prominent local businessman Frans van der Walt said there is a substantial repository of information on projects on the cards for Zululand to encourage further investment in the area.
‘I am a firm believer in expanding Integrated Development Planning (IDP) and strengthening it by means of Coordinated Development Planning, whereby prospective developers, are also made aware of other developments on the cards, be they complimentary or possible competition.
‘This is all with the view to ensure the correct investment decisions are made, leaving sustainable economic opportunities with no surprises in store as a result of a lack of information.’
In the public sector, Van Der Walt said new housing developments including Royal Creek, north of Birdswood, are imminent as well as a new three-storey Magistrates’ Office Building in Premium Promenade.
Public hospitals such as the Ngwelezane and War Memorial Hospitals, are also being upgraded to the total cost of R485-million, while the eSikhaleni Community Health Centre is seeing improvements made to the value of R175-million.
Port promise
But, Van Der Walt said one of the most encouraging developments in Richards Bay will be Transnet’s expansion plans for the Port of Richards Bay.
‘You may have noted in the media that Transnet has massive plans for this region, and should that materialise, and some indications are that Government is serious about it at this stage, then this region is going to see exponential growth as a result of the substantially improved and expanded infrastructure – which have held this region back for many years.
‘The amount of R60 to R75-billion will be invested in infrastructure supporting the port over a seven-year plan.
‘The expansion planning and feasibility have commenced with completion expected in 2020.’
Van Der Walt said the planned R32.5-billion upgrade to the rail network to Richards Bay will increase capacity from the current 71 million tonnes per annum (mtpa) to 97.5mtpa by 2020.
‘Current port planning is for the Transnet expansion plans to be completed within the next seven years, which should mean that suppliers and contractors do not have time to delay in establishing substantial presence in this region.
‘Downstream and supply industries should realise the importance of this investment and expansion plans for the medium to long term.’
