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NMBM Welcomes R112 Billion Investment Announcement by Premier Mabuyane

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The Nelson Mandela Bay Municipality welcomes the significant new investments that have been attracted into its region as announced by Eastern Cape Premier, Oscar Lubabalo Mabuyane on Friday during the 3rd Eastern Cape Investment Conference in East London.

During the much-anticipated conference, attended by 400 delegates including investors, Premier Mabuyane said a total of R112billion in investments had been attracted into the Bay with eight investors projects centred in the Metro and 22 216 job opportunities to be created.

Speaking at the conference, NMBM Deputy Executive Mayor, Cllr Babalwa Lobishe said the new investments unpacked by the Premier strengthened the Metro’s position as the economic hub of the province.

Cllr Lobishe was joined by Economic Development, Tourism and Agriculture Mayoral Committee Member, Cllr Shuling Lindoor.

“The investments in the pipeline include the R80million for the Tshedza Pictures production, R114million for Formex, R145million for CRH Africa, Jendamark’s R150million, South African Breweries’ R510m, Parsons Power Park’s R2.7bn, Stellantis with R3billion and Hive Hydrogen’s R105billion. This is amazing news for our people as this cements the Metro’s position as a key role player in the economic activity of the country at large.”

“We are confident that the confidence that is continuously shown by investors in our region will translate into sustainable jobs for our people. We are further encouraged by the fact that so many different industries will benefit from these investments from the creative sector to the energy sector, the much needed boost will benefit a wide range of industries,” said Deputy Mayor Lobishe.

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NMB Communications

Media Communications at Nelson Mandela Bay Municipality
The Nelson Mandela Bay Metropolitan Municipality Communications Department is responsible for communicating pertinent Municipal news from Port Elizabeth, Uitenhage and Despatch. Municipality Contact Details. See more articles by NMB Communication's.