More than R4.3 billion is to be invested in the Tshwane Automotive Special Economic Zone (TASEZ) by 12 Ford suppliers and related services companies that have committed to establishing operations in the SEZ, according to Moneyweb.
Ford’s executive director of government affairs for Africa, Dhiren Vanmali, confirmed this, adding that another 10 Ford suppliers and related services companies are showing keen interest in establishing operations in the SEZ.
“Accordingly, the team is already hard at work on the next phases of the project beyond the initial 81-hectare site,” he said.
Once completed, the TASEZ will span 204ha of land currently owned by the City of Tshwane.
National Association of Automotive Component and Allied Manufacturers (Naacam) executive director Renai Moothilal said he is aware of companies that have been investigating possible investments in the TASEZ but the full and final list of investors has not yet been released.
Ford says 12 of its suppliers and related services companies have made the commitment, while another 10 are showing keen interest.
The automotive hub, which was first announced in November 2019 is billed as Africa’s first automotive city. It is developed through a joint partnership with Ford, the Department of Trade, industry and Competition (DTIC), Gauteng Provincial Government and the City of Tshwane.
Based in Silverton, Tshwane, the hub forms part of South Africa’s 10 Special Economic Zones (SEZ), aimed at repositioning SA in the world economy and which have become global tools for social, economic and digital transformation.