The Coega Development Corporation (CDC) has announced that more than 900 jobs will be created through the Coega Aquaculture Development Zone (ADZ).
The project will be funded by the Eastern Cape Department of Economic Development, Environmental Affairs and Tourism (DEDEAT) to the tune of R206 million through the provincial stimulus fund.
Marking a significant milestone in the project, Eastern Cape MEC for Finance and Economic Development, Mlungisi Mvoko, celebrated the occasion with a sod turning event held on Tuesday at the Coega Special Economic Zone (SEZ) in Zone 10.
"This project is in line with our provincial development strategy and it speaks to the Eastern Cape's Oceans Economy. As government, the most important thing is to save jobs and go beyond saving to creating jobs.
"This stimulus fund seeks to fund enterprises that seek to save jobs. This is something that we have done and continue to do. With the Oceans Economy Master Plan, there is a lot to be tapped and if we focus on that Master Plan we will create jobs, especially with the coastline that we have in the province," the MEC said.
Four-hundred hectares of land has been earmarked for the development of the ADZ, with phase 1 occupying 110ha of land. The project will also see the construction of a desalination plant.
"To date, the CDC has signed four Letters of Intent (LOI's) with companies which have shown interest in building two Perlemoen Farms and two Finfish Farms. The two Perlemoen Farms projects are earmarked to create over 700 jobs and the two Finfish Farms coming in with 200 jobs," CDC Manager: Project Development, Dr Keith Du Plessis, said.