Coega to include dairy plant
Fin24 - Jul 4th 2011, 07:48
Johannesburg - The Coega Development Corporation (CDC) will launch a dairy processing plant with an initial investment of R50m in September, it said on Wednesday.
It said Coega Dairy, owned by Coega Milk Producers Organisation (CDMPO), will initially invest about R50m to tool and operate the plant. The CDMPO is owned by 13 commercial dairy farmers.
The business operations would take place in a building in Zone 3 of the Coega Industrial Development Zone, which is situated outside Port Elizabeth.
It would create 754 indirect jobs, 200 farm jobs, 70 operational jobs and 50 construction jobs, the CDC said.
"By the end of 2013, the investment would have grown to R150m. The company is currently raising finance for a 40% equity stake for their empowerment partners."
The shareholding would be modified in 2012 to include the Coega Empowerment Trust, a body which would include previously disadvantaged commercial dairy projects, black factory employees of Coega Dairy, and dairy farm labourers.
The CDC said the processing plant would consume 50% less water, energy and chemicals than other plants.
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