Small craft harbour set to boost KZN economy

Wednesday, February 18, 2009

Pietermaritzburg - The construction of a small craft harbour at Durban's Point Waterfront is expected to attract investment capital in excess of R6 billion to the province.

Delivering his 2009 State of the Province Address on Wednesday, KwaZulu-Natal Premier Sibusiso Ndebele said the small craft harbour will further create 6 000 to 8 000 direct new jobs during the construction phase, with a further 6 000 permanent jobs once fully operational.

"This excludes the thousands of indirect jobs created as a result of an investment project of this scale."

He added that once completed, it was anticipated the entire development would increase the rates base of eThekwini by more than R100 million per annum.

The entire development will comprise approximately 575 000 of bulk square metres, across a variety of usage types including office, residential, retail and hotels, the premier said.

At present, about 200 000 bulk square metres of this has been sold, representing virtually the entire stock of zoned land available prior to the Record of Decision by the Department of Agriculture and Environmental Affairs.

"We foresee it becoming a safe, clean and vibrant environment, where all citizens, irrespective of class or race, can enjoy the best which Durban has to offer.

"In short, we expect it to be on par with leading harbour rejuvenation projects around the world," the premier said.

This decision, he explained, was consistent with, and will further drive, the provincial government's vision to position KwaZulu-Natal as one of the continent's major growth nodes.