The Department of Small Business Development, Tourism and Environmental Affairs (DESTEA) MEC Thabo Meeko, visited the Hangda Steel Factory in Thaba Nchu for oversight.. With R300 million in investments, this is one of the projects facilitated by DESTEA and FDC.
The aforementioned business transforms scrap metal from all over South Africa into steel and iron. It is as of now working with 120 individuals from the neighborhood; approximately 500 additional permanent employees when phase one is fully operational.
“This is one of key results emanating from continuous engagements with different stakeholders, investors, and potential funders. We are on a mission to attract investors so that we buy new money into our economy and create jobs to reduce the high rate of unemployment,” said MEC.
The company started out in a factory in Botshabelo. When it turned out that the area didn’t have enough electricity to power the project, the company moved to Thaba Nchu.
Now in its final stage, the project is expected to start in the first week of June 2023. 500 new jobs will be created when power capacity is increased.
MEC came to the conclusion that he would continue the roadshows to other local municipalities in an effort to locate economic opportunities.
CENTRAL NEWS
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