The Coega Industrial Development Zone (IDZ) covering 110 km² of land, is situated within the Nelson Mandela Metropolitan Municipality near Port Elizabeth, in the Eastern Cape province of South Africa. The initiative is a multibillion-dollar industrial development complex customised for heavy, medium and light industries, adjacent to a deepwater port, Port of Ngqura. The Coega Development Corporation (CDC) is the developer and operator of the Coega IDZ and is responsible for the land side infrastructure, while the deep-water port facility, Port of Ngqura, is developed by the Transnet National Ports Authority.
The Coega IDZ is a phased development around industry clusters with Custom Secure Areas dedicated for export-oriented manufacturing for companies located in the zone. Coega offers a platform for global exports by attracting foreign and local investment in manufacturing industries. A strategic development framework plan for the Coega IDZ has been developed, focusing on infrastructure development and facilities for the core development Area, which comprises 65 km². A number of multinational companies[who?] already operate from this area.
The Coega IDZ has to date signed investments worth approximately R30 billion (US$4.1 billion) and currently has a portfolio of investments undergoing feasibility which are worth some R140 billion (US$19.2 billion), to come on stream at various stages over the next five years. These include an oil refinery, a combined-cycle gas turbine power station, a Business Process Outsourcing Park, automotive plants, and various other investments in the logistics, chemicals, and food-processing sector.
|This Eastern Cape location article is a stub. You can help Wikipedia by expanding it.|
|This article related to water transport is a stub. You can help Wikipedia by expanding it.|