from FUTHI MBHELE in Durban
KwaZulu Natal Bureau
DURBAN, (CAJ News) – THE R1,9 billion (US$99,2 million) Giba Business Estate, set to support the logistics sector along the N3 corridor, is poised to create jobs and opportunities for local entrepreneurs.
The largest light industrial and logistics development to break ground within Durban’s outer west region in more than three years, has been unveiled in the coastal city.
The development will in addition to creating hundreds of short term and permanent jobs significantly boost the greater eThekwini region’s gross domestic product (GDP).
Minister of Public Enterprises Pravin Gordhan, eThekwini Mayor, Mxolisi Kaunda, as well as developers Sultex Investments have launched the major project.
“It is important for youth to be empowered to become business people so they can help grow the economy and create employment,” said Gordhan.
“In many places around the world, the lack of inclusivity and inequality is a major challenge. We need to make sure that with this project and others, as many people as possible benefit and share in the prosperity of the project.”
Speaking at the sod turning ceremony, Kaunda said the project will change the socio-economic landscape for the area, particularly for the community of Ward 15.
It is an addition to a string of catalytic projects the city is implementing in the region.
Kaunda said Giba intends to create around 492 jobs during the construction phase and some 4 661 permanent jobs post construction.
“We are also delighted that this project will contribute to the financial health of the municipality as it will contribute over R60 million in rates revenue after three years of its commissioning,” the mayor said.
The development will see the development of 220 000 square meters of platformed sites of various sizes.
The Giba Business Estate comprises 22 sites aimed at light industry, warehousing and the allied logistics sectors.
The estate encompasses eco-friendly green zones to reduce the carbon footprint and environmental impact.
Infrastructure to support high-speed fibre, solar electricity generation and security has also been included in the planning.
– CAJ News