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Indian firms look at investments in South Africa
By
IANS
| Friday,01 February 2008, 21:14 hrs
|
Port Elizabeth: Several Indian companies are in talks with South African authorities to explore possibilities of investment in metals and automotive projects at South Africa's Coega industrial development zone (IDZ), BuaNews reported Thursday.
The Coega Development Corporation (CDC) had said earlier that they had been in talks with the Indian companies to attract investment to the IDZ outside Port Elizabeth, BuaNews said quoting SouthAfrica.info website.
The website, however, did not disclose the names of the firms.
According to CDC Business Development Manager Belu Mabandla, the total value of investment projects being negotiated with the Indian firms exceeds $2 billion and cover metal and automotive sectors.
Agreements may be signed with at least three Indian firms during the current year or early next, the official said.
The Coega Development Corporation (CDC) had said earlier that they had been in talks with the Indian companies to attract investment to the IDZ outside Port Elizabeth, BuaNews said quoting SouthAfrica.info website.
The website, however, did not disclose the names of the firms.
According to CDC Business Development Manager Belu Mabandla, the total value of investment projects being negotiated with the Indian firms exceeds $2 billion and cover metal and automotive sectors.
Agreements may be signed with at least three Indian firms during the current year or early next, the official said.
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