South African Trade and Industry Minister Alec Erwin says he is confident that the proposed Coega aluminium smelter project will go ahead, although Monday’s decision by the European Union could have an impact on the timing of the development.
The EU will decide on Monday whether to approve the proposed takeover of French company Pechiney — which planned to build the smelter — by Canadian aluminium company Alcan.
Erwin told the National Assembly on Friday that he would “caution against any undue excitement about press reports. It is an immensely complex and big project. Should it take place in South Africa, it will be the largest foreign investment ever in South Africa.”
“The Alcan merger with Pechiney by the European Union could have an impact on the timing of this, but we remain confident that the project is likely to go ahead.”
“But in any event the interest now being expressed in the Coega industrial development zone (outside Port Elizabeth) is very strong indeed.”
He said the Nelson Mandela Metropole could look forward “to some very exciting developments”. – I-Net Bridge