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Toyota & Ogihara Launch R1.1 Billion JV in the Dube TradePort SEZ
Toyota & Ogihara Launch R1.1 Billion JV in the Dube TradePort SEZ
Date: 2024-08-29
The over R1.1-billion automotive components manufacturing facility that was officially launched at Dube TradePort's Special Economic Zone is a joint venture manufacturing operation between Toyota Tsusho Africa (Pty) Ltd (TTAF) and Ogihara Thailand Corporation Ltd (OTC), MEC for EDTEA, Rev Musa Zondi, said that this launchwas indicative of continuing momentum in the KwaZulu-Natal economy.
Ogihara SA's 32 000 m2 site at DTP'S TradeZone 2 will include a manufacturing and assembly plant relocated from Thailand that will produce pressed steel components for supply to Toyota South Africa Manufacturing.
Construction of the facility has commenced and the company aims to resume its manufacturing operations in June 2025. Ogihara SA is the single largest investment secured by DTP since its inception, alongside Durban's King Shaka International Airport.
Speaking at the event, Andrew Kirby, CEO and President of Toyota South Africa Motors, says, "This joint venture marks a significant step towards our Local Value Addition (LVA) improvement strategy by localising the production of these critical components. The inclusion of Ogihara SA in our local manufacturing ecosystem will not only create new job opportunities but also enhance our capabilities in producing high-quality body parts for the automotive industry. This collaboration exemplifies our commitment to localisation and underscores the possibilities for growth and development in the KZN province."
The automotive industry is South Africa's largest manufacturing sector. Currently, KZN's automotive manufacturing sector is concentrated in the south of Durban, contributes about R21 billion to the local economy per year, and employs some 20 000 people.
A great boon for the whole region.