A new, multi-million rand high voltage power cables plant is being launched in Port Elizabeth by Trade and Industry Minister Ebrahim Patel on Thursday.
The R135m plant forms part of Aberdare Cables’ investment drive in South Africa and its business expansion strategy.
According to a statement from the Patel's office, the investment is a direct response to President Cyril Ramaphosa’s campaign to attract investment and grow the economy.
The industrial investment will see Aberdare Cables’ manufacturing capability increase from manufacturing cables from a current level of 33 kilovolts (kV) to 132kV.
The plant is expected to be fully operational at the end of July with 58 new jobs created.
Patel said: "Wealth and jobs are created by expanding productive capacity. Government will deploy industrial policy measures to support manufacturers as that opens enormous economic opportunities not only for the industry and for the country at large."
Aberdare Cables CEO Dr Haiyan Song said the investment will create opportunities for the youth.
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