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Yangtze invests R 150 million in Dube TradePort

Yangtze invests R 150 million in Dube TradePort

Date: 2016-05-27
Yangtze Optics Africa Cable (YOAC), an optical fibre and accessory manufacturer, officially launched its new manufacturing facility within Dube TradePort. The new purpose-built fibre optic manufacturing facility is valued at R100 million, with a further R150 million investment expected in the machinery and other equipment. This investment is seen to have the potential to significantly bolster South Africa's efforts to grow exports and expand communications infrastructure.

The MEC for Economic Development, Tourism and Environmental Affairs, Mr Michael Mabuyakhulu, said, "This R150m fibre optic investment by Yangtze Optics Africa demonstrates the massive growth potential within KwaZulu-Natal, and South Africa as a whole, as we gear up to meet our goal of ensuring universal internet access. As KwaZulu-Natal, we have already committed ourselves to accelerating access to broadband connectivity across the province. Since last year, we have rolled out over 14 000 kilometres fibre optic cable, which currently connects every hospital in the province including 119 clinics and 1 624 schools. In addition to this, we have initiated another project that seeks to establish Wi-Fi hotspots in strategic areas across the province."

The move by YOAC to locate their new manufacturing facility within Dube TradePort's Special Economic Zone (SEZ), adds further credence to Dube TradePort's status as a prime investment destination, having already successfully secured R1,4 billion in private investment.

The Chairperson of Dube TradePort Corporation's Board, Dr Bridgette Gasa, remarked, "This multi-million Rand investment also re-enforces Dube TradePort's sector-led strategy of attracting a cluster of electronics and ICT industry manufacturers in Dube TradeZone's SEZ, as well as further establishing DTPC's key strategic objective of becoming a manufacturing and logistics platform servicing sub-Saharan Africa.