KwaZulu-Natal Premier Sihle Zikalala has commended Swedish multinational food packaging and processing company, Tetra Pak, for its multi-million investment that will create new jobs in the wake of COVID-19 and related socio-economic challenges.<\/p>\n<\/p>\n
Tetra Pak South Africa announced the investment of approximately R500 million to upgrade the production capacity of its packaging material factory in Pinetown, Durban.<\/p>\n<\/p>\n
The investment will go towards upgrading and increasing the production capability of their packaging material factory located at the plant in Pinetown.<\/p>\n<\/p>\n
Speaking at the event, Zikalala said the announcement of the investment confirms a long-term commitment to KwaZulu-Natal, and showcases South Africa as a key manufacturing hub, with the capacity in infrastructure and skills to serve all the Southern Africa markets.<\/p>\n<\/p>\n
\u201cWe welcome this injection of half a billion rand into our economy, which will certainly foster economic growth and boost much-needed jobs in the province. At a time when the global economy is hard-hit by the COVID-19 pandemic, the provincial government is pleased that Tetra Pak\u2019s investment will safeguard approximately 120 jobs, with an additional minimum of 20 new technical professionals to be employed.<\/p>\n<\/p>\n
\u201cWe are also excited about Tetra Pak\u2019s long-term vision [and] from this current production location, the company is seeking to position itself as an export hub for South Africa and a platform for growth on our wider continent.<\/p>\n<\/p>\n
\u201cKwaZulu-Natal has mounted an energetic, diplomatic engagement to invite investment into our province to create jobs and safeguard livelihoods,\u201d Zikalala said.<\/p>\n<\/p>\n
The Premier said the Tetra Pak investment adds strength and vigour to the \u201charmonious fraternal\u201d relations between Sweden and South Africa.<\/p>\n<\/p>\n
\u201cWe located this investment within the objectives of the KwaZulu-Natal Economic Recovery and Transformation Plan, which is working to cushion the devastating impact of COVID-19 on the economy and livelihoods.\u201d<\/p>\n<\/p>\n
Operation Vula Fund <\/p>\n<\/p>\n
In order to bring the black majority in the mainstream economy and reduce race based and gender-based poverty and inequality, the Premier said the provincial government launched Operation Vula Fund as the cornerstone of the KwaZulu-Natal Economic Recovery and Transformation Plan.<\/p>\n<\/p>\n
In June 2021, equipment with a combined value of R300 million was disbursed to more than 1 000 Small, Medium and Micro Enterprises (SMMEs), and no less than 42% of the successful applicants were youth-owned businesses.<\/p>\n<\/p>\n
Funding was also approved to 447 women-owned businesses, which represents 43% of the total successful applications lodged with Operation Vula Fund.<\/p>\n<\/p>\n
The provincial government is also implementing the policy of 30% set aside for women, youth and black-owned SMMEs. It is further implementing the targets on local procurement, with 35% allocated to the youth, 30% women, 5% people with disabilities, and 60% allocated to Africans.<\/p>\n<\/p>\n
\u201cWorking with a country like Sweden and a company like Tetra Pak, we are confident that we can grow the provincial economy, create employment, and lift the living standards of all our people, black and white.<\/p>\n<\/p>\n
\u201cOur government has a carefully conceived programme of radical socio-economic transformation that is being implemented on a daily basis with demonstrable results. Our task is to help support skills development, attain policy certainty, remove red tape, fight crime and protect investments,\u201d Zikalala said.<\/p>\n<\/p>\n
Tetra Pak Southern Africa Managing Director, Stefan Fagerang, said the Pinetown investment is about increasing the local content of its manufactured product by 50% to 80%.<\/p>\n<\/p>\n
\u201cThe investment also supports the company’s commitment to be carbon neutral by 2030 and its ability to serve the Southern African market,\u201d Fagerang said.<\/p>\n<\/p>\n
Tetra Pak Pinetown factory director, Muhammad Waqas Ali, said with the new state of the art plant, if a customer needs to respond to market changes, \u201cwe will be able to accommodate such changes with a quick turnaround.\u201d<\/p>\n<\/p>\n
Source: South African Government News Agency<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
KwaZulu-Natal Premier Sihle Zikalala has commended Swedish multinational food packaging and processing company, Tetra Pak, for its multi-million investment that will create new jobs in the wake of COVID-19 and related socio-economic challenges.Tetra Pa…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"yoast_head":"\n