Chinese Plans $2.8 Billion Investment in South Africa

A group of Chinese investors planned to invest about 40 billion rand ($2.8 billion) in South Africa’s energy and metals-related industrial park.

The Chinese group led by Hong Kong Mining Exchange Co., will develop and manage the park, and projected will create more than 21,000 jobs to help ease unemployment and grow manufacturing industry. These facts were issued by the South Africa’s Department of Trade and Industry statement on Thursday.

The park will be built inside the new Economic Zone in the north of Limpopo, a largely rural province.

Rob Davies, the Trade and Investment Minister received approval last week to go ahead with the zone and issue operator permit.

South Africa seeks to boost manufacturing activities and increase investment in an economy predicted to grow at the slowest pace in 6-year this year.