The Coega Development Corporation (CDC) has signed a Service Level Agreement (SLA) for economic development initiatives with Lejwe Le Putswa Development Agency (LDA) in the Free State.
"The partnership will see the CDC using its extensive expertise in project management; developing and managing special economic zones; assisting LDA in developing projects such as the Thabong Industrial Park, driver training programme for youth, and developing a synthetic gas project that will turn waste to gas for power generation," the CDC said in a statement on Monday.
The main project will be the development of Thabong Industrial Park, a R69.7 million project aimed to formalise 19 businesses currently operating in the informal sector. This will create employment opportunities for more than 160 people.
The Industrial Park will enable emerging businesses to improve the quality standards of their products in order to become more competitive, expand and create employment opportunities for local communities.
This is in line with government’s initiatives for economic development and the transformation of various industries.
Lejwe Le Putswa Development Agency CEO Bafunani Mnguni said the district wants to diversify its economy from the shrinking mining and agricultural sectors.
“There need to be more sectors that are introduced to increase economic development in the area, which has seen a high unemployment rate,” he said.
CDC Executive Manager Bonginkosi Mthembu said Coega boasts over 20 years of experience in the industrial and economic development projects.
“The organisation has sufficient expertise and competent personnel, who can assist LDA on projects. The CDC is looking forward to woring with the Lejwe Le Putswa Development Agency.
“This is a step taken by both parties towards bringing in investors and enhancing the region’s investment attraction, particularly Free State province,” Mthembu said. –SAnews.gov.za