Mauritius-based Safal Investments, which owns steel coating facilities in eastern and southern Africa, plans to build a $100 million plant in Cato Ridge near Durban in South Africa.
The planned facility will be the company's third investment in the country and will create 300 job opportunities for the local community. In the first three-four years of the investment, the plant is expected to have an annual capacity of 150,000 tons of coated steel. The company will obtain steel supplies either locally from Mittal Steel or else import supplies from Japan and India. After the finishing process, it plans to export its products to other parts of Africa.
Commenting on their investment plan, Safal South Africa CEO Ronnie Graham said, "Strategically, Cato Ridge is a good area because of its proximity to the Durban port, which we believe is still the best for export and import. It is also on the main railway line between Johannesburg and Durban".