South Afriica: Pegas Nonwovens Plans R1.3 Billion Atlantis Investment

Google+ Pinterest LinkedIn Tumblr +

The City of Cape Town has welcomed a R1.3bn investment in Atlantis by multinational corporation Pegas Nonwovens which is set to open a new plant in the suburb.

The new Atlantis facility will manufacture non-woven, polypropylene and polyethylene-based textiles used in disposable hygiene products such as baby diapers, adult incontinence and feminine hygiene products.

At a media briefing, Mayor Patricia de Lille congratulated Pegas on furthering its international expansion.

Pegas has expressed great confidence in Cape Town as a safe investment location, De Lille said.

De Lille said the investment by Pegas is expected to create 200 direct jobs.

“This is an investment into the lives of vulnerable residents who will soon have a brighter future as they, together with their families, are uplifted out of poverty,” she said.

Atlantis is a special economic zone (SEZ) which it is envisioned will support manufacturing, mainly for the renewable energy sector.

Other major companies already in operation in Atlantis include Gestamp Renewable Industries, a Spanish wind tower manufacturer, and electronics manufacturer Hisense.

The R1.3bn is the largest single investment facilitated by the Western Cape’s investment agency, Wesgro, since 2011.

In a statement, Western Cape premier Helen Zille said the province plans to launch an investor centre alongside Wesgro during the course of 2017.

This will be a one-stop-shop for investors to complete local, provincial and national regulatory processes under the professional guidance of a single relationship manager, Zille said.


About Author

Leave A Reply