Saldanha Bay may be able to generate 40,000 jobs in South Africa, thanks to the Industrial Development Zone
In a presentation to the standing committee on economic opportunities, tourism and agriculture in the Western Cape Provincial Parliament, it is also estimated that more than 21,000 of these jobs will be created in the Western Cape by 2021.
The job-creating prospects that exist in the Saldanha Bay IDZ are abundant. It will be a terrible mistake to lose this manufacturing capacity because of temporary high input costs for energy, according to the presentation. The presenters called for national government to find a solution together with ArcelorMittal to alleviate the burden Eskom is putting on the Saldanha Works steel plant through the winter months, and prevent the closure of the plant.
The DA-led Western Cape is on track to create opportunities for economic growth and jobs. Project Khulisa is a focused intervention programme by the Western Cape government aimed at accelerating economic growth in the oil and gas sectors. The natural advantage of the Saldanha Bay is notable, the port of Durban, Port Elizabeth and Cape Town can fit into the Bay of Saldanha. The bay is also well placed to service the oil and gas industry, especially companies exploring the West Coast of Africa.
The majority of the jobs are expected to be highly skilled and well-paying creating around US$551mn in cumulative taxes. It will contribute US$5.3bn to the GDP of South Africa, and U$3.4bn in Gross Geographic Product to the Western Cape.