Two new investments in the Western Cape, recently facilitated by WESGRO, the official Investment and Trade Promotion Agency for the province, have underlined the confidence investors have in South Africa, even at a time of global economic uncertainty.

General Electric (GE), the global conglomerate with more than 316,000 employees across 100 countries, has committed to a R92-million investment that will expand its existing facility in Cape Town.

GE Security, a division of GE that manufactures access control systems, video surveillance and fire detection equipment, currently employs around 250 people in its manufacturing facility in Cape Town.

The company expects the expansion investment to generate 120 direct jobs manufacturing electrical equipment at its Maitland facility. 

Separately, WESGRO also announced a R26-million expansion investment at the Romney Park All Suite Hotel and Spa in Green Point that is expected to generate an additional nine direct jobs.

The new wing includes a further 11 suites, a new bar and lounge, generous terrace and sophisticated restaurant. 

“We would like to thank GE and Romney Park for the confidence that they have shown in the Western Cape’s economy which we are certain will yield positive returns for them,” said Angelo Manzoni, CEO of WESGRO.

“At a time when other enterprises are consolidating their operations our investors are preparing for growth in demand, when the economy recovers. WESGRO’s dedicated aftercare team will continue to work with GE and Romney Park to contribute to their future successes,” he added.

Angelo Manzoni also expressed confidence in WESGRO’s new mandate of focusing on priority sectors, as he announced a particularly healthy investment pipeline of 62 potential investment projects with a total value of R23.6-billion.

Of these investments, 64% is in the Manufacturing sector with a massive R4-billion project on the cards. 26% is in renewable energy and a further 8% in the Tourism sector. WESGRO has also expanded its mandate to include the BPO and Oil & Gas sectors.

For the 2009/10 financial year, WESGRO expects to generate R5-billion in investments with the potential for generating 3,000 jobs.

Also at the meeting, WESGRO announced that it was awaiting the results of an internal study into the possibility of an industrial development zone (IDZ) at Saldanha, on the West Coast.

It is hoped that should the Saldanha IDZ get the go ahead it could include a major smelter, and a number of other multi-billion rand investments.

For more information about either of these investments or how Wesgro facilitates investment in the Western Cape contact Wesgro:
Name: Judith Coetzee
Position: Communications Officer
Email: Judith@wesgro.co.za
Tel: +27 21 487 866