South African president Cyril Ramaphosa launched a new R2.4 billion (equivalent to $170.5 million) Special Economic Zone (SEZ) in Atlantis, Cape Town which will lead to large-scale investments, creating jobs in the Western Cape as an effort to reposition itself in the world economy.
SEZ is supporting the government policy for Economic development and industrialization to create renewable energy, lower carbon creation and develop a green electricity infrastructure.
“The Atlantis Zone has already attracted four large green tech investors, which are fully operational,” - President Cyril Ramaphosa,
Gestamp Renewable Industries was the first to invest into SEZ. The company invested R300 million and creating about 220 jobs in Atlantis.
South African president Ramaposa launched a new R2.4 billion (equivalent to $170.5 million) Special Economic Zone (SEZ) in Atlantis, Cape Town which will lead to large-scale investments, creating jobs in the Western Cape as an effort to reposition itself in the world economy.
"Atlantis Zone has an investment pipeline valued at R2.4 billion,” - Cyril Ramaphosa.
A new era is coming to Atlantis, which is located with access to national roads and proximity to two ports to export.
The company behind it is Green Cape - "a non-profit company established in November 2010 by the Western Cape Provincial Government and The City of Cape Town to unlock the manufacturing and employment potential in the green economy."
Resolux invested as well, R25 million. Others include Kaytech with an investment of R130 million, and Skyward Windows with an investment of R50 million.
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