Newlyn Investments’ R4 billion pledge made at the fifth South African Investment Conference (SAIC) held in Johannesburg in April this year, is set to be a significant contributor to the national economy, as well as that of the Eastern Cape.
Newlyn Investment is 100% black-owned and a leading South African developer of strategically located and operationally efficient storage infrastructure in close proximity to both coastal and inland logistics hubs.
The company, through its affiliate Unitainer, pledged an investment of R4 billion for the development of a state-of-the-art manganese storage and handling facility at the Coega Special Economic Zone, in Ngqura, in the Eastern Cape.
The investment was announced as one of the pledges worth billions of rands that were made during SAIC this year.
The six-million ton per annum back of port manganese storage export facility has been designed in partnership with leading global materials handling technology suppliers to be operationally efficient and the world’s first near zero dust emission bulk mineral handling facility.
Newlyn's Chief Executive Officer, Rajendra Balmakhun, said the investment further underscored the company's long term belief and commitment in the South African economy, forged over the last 27 years since the company’s incorporation.
Furthermore, the investment is a response to government’s call for private sector participation in critical infrastructure delivery, which is key to economic activity, especially in the current economic climate.
Given the growth of the South African manganese industry, this new terminal has been designed as common user infrastructure to enable further access to the global export markets for both established and emerging manganese miners.
“This national interest project will be the world’s first near zero dust emission facility for the storage and handling of manganese ore from the time it arrives at the back of port location in Coega from the mines in the Northern Cape,” Balmakhun said.
“The operational efficiency achieved through rapid train unloading and rapid ship loading speeds will potentially unlock significant incremental rail capacity of some four million tons per annum on the manganese heavy haul rail line without further investment in rolling stock,” he said.
Additionally, Balmakhun said the project will serve to accelerate the long-awaited relocation of the manganese export terminal from Gqeberha to Ngqura, thereby significantly alleviating public health issues arising from open stockpiles of manganese in the city and enabling the redevelopment of the Gqeberha waterfront precinct.
With regards to job creation and skills development, Balmakhun said the independent socio- economic report on the project estimates that approximately 3 300 direct construction workers will be deployed during the peak of construction with a further 11 700 indirect and induced jobs created during the anticipated 30 month construction period.
At full operational levels, an estimated 200 full time and multiple spin-off jobs will be created by the facility.
In addition, Newlyn has negotiated a three-year post commissioning skills transfer and skills development commitment from its global technology partners to ensure there is local capacity building for operating and maintaining the facility.
The global original equipment manufacturers have also undertaken to manufacture the bulk of the facility’s equipment and machinery under license in South Africa.
“Newlyn prides itself on its speed of infrastructure delivery, deploying the best available technology, designing operationally efficient and environmentally compliant infrastructure and building communities.
“We are committed to building on our relationship with key stakeholders and our host community to ensure the company is a catalyst in the socio-economic development of the Coega SEZ, Ngqura and to the Eastern Cape region in particular.
“The project is poised to be a significant contributor to the national and Eastern Cape economy in the years to come,” Balmakhun said.
Newlyn’s 2023 investment pledge was the company’s second, following the pledge it made at the 2018 investment conference, during which the company pledged an investment of R2 billion in the redevelopment of the Bayhead Rail terminal near the Port of Durban. – SAnews.gov.za
