By Proffesor Ndawonde
Pietermaritzburg – The construction of a small craft harbour at Durban’s Point Waterfront is expected to attract investment capital in excess of R6 billion to the province.
Delivering his 2009 State of the Province Address on Wednesday, KwaZulu-Natal Premier Sibusiso Ndebele said the small craft harbour will further create 6 000 to 8 000 direct new jobs during the construction phase, with a further 6 000 permanent jobs once fully operational.
“This excludes the thousands of indirect jobs created as a result of an investment project of this scale.”
He added that once completed, it was anticipated the entire development would increase the rates base of eThekwini by more than R100 million per annum.
The entire development will comprise approximately 575 000 of bulk square metres, across a variety of usage types including office, residential, retail and hotels, the premier said.
At present, about 200 000 bulk square metres of this has been sold, representing virtually the entire stock of zoned land available prior to the Record of Decision by the Department of Agriculture and Environmental Affairs.