Gauteng MEC Jabu Moleketi has announced the names of three companies that are set to invest more than R75 million in the Blue IQ programme’s R1-billion automotive supplier park in Rosslyn.
Gauteng MEC for finance and economic affairs Jabu Moleketi has announced the names of three companies that are set to invest more than R75 million in the Blue IQ programme’s R1-billion automotive supplier park in Rosslyn.
on Wednesday quoted Moleketi as saying that Faurecia, a French automotive equipment manufacturer, Grupo Antolin, a Spanish automotive component supplier and Tensile Rubber Mouldings, a 60-per cent black empowerment-owned company established earlier this year through the sale of the mouldings division of Tensile Rubber, would invest R75 million in setting up operations in the park.
Last month, CARtoday.com reported that BMW SA managing director and Naamsa president Ian Robertson had announced that three foreign automotive component makers would set up operations near the assembly plants of BMW, Fiat, Nissan and Ford in Rosslyn next year.
At the time, Robertson mentioned two German firms and one French company, but declined to name them: "They will be new companies to South Africa, and the investment will be quite substantial," Robertson said, adding that that buildings were being put up to house the companies.
Naacam executive director Clive Williams recently estimated that by situating their operations in the supplier park, component firms could save up to three per cent on costs and “make a huge difference" to their profitability.
Blue IQ is investing R200 million in the infrastructure of the supplier park, with R800-million being sought from the private sector.
Original article from Car