Conference set to boost oceans economy investment

President Jacob Zuma is expected to address the Terminal Operators’ Conference Africa (TOC) next week, which is set to pave the way for investment into the oceans economy.

The TOC augurs well for the country’s economic growth prospects, using KwaZulu-Natal’s two world-class deep water ports of Durban and Richards Bay to bolster its oceans economy.

The world-class trade exhibition and networking conference coincides with big-ticket investment undertakings in the country to expand the capacity of its major commercial ports to support the projected increases of cargo volumes said the Presidency in a statement.

The two-day conference, to be held at the Inkosi Albert Luthuli International Convention Centre in Durban, is set to bring together experts and investors involved in logistics, liner shipping, ports, terminals, inland transport and equipment manufacturers to discuss improving trade flows across the African continent.

The conference will also showcase to the world the vast array of investment opportunities and capabilities on offer at the world-class ports which also have an established history as the gateway into the rest of Africa.

In an earlier statement, KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs, Sihle Zikalala, hailed the hosting of the inaugural conference in the province as a major achievement.

“The TOC is an ideal platform for KwaZulu-Natal to showcase to the world the vast array of investment opportunities and capabilities on offer at its world-class ports which also have an established history as the gateway into the rest of Africa.

The conference will afford us an opportunity to talk about the investment opportunities that have been created by these upgrades,” said the MEC.

The City of Durban has already seen a R74 billion investment into the new King Shaka International Airport and terminal facilities. The Durban Container Terminal is the biggest and busiest in the southern hemisphere and currently handles 64% of the country’s seaborne container traffic. Richards Bay, which is one of the leading coal export terminals in the world, boasts a capacity of 91 tonnes per annum.

Source: South African Government News Agency

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