Ramaphosa hails new West Rand factory as proof of SA Investment Conference success
President Cyril Ramaphosa has hailed a new brick manufacturing plant in Driefontein, west of Johannesburg as the fruits of the annual South African Investment Conference.
President Ramaphosa delivered the keynote address at the official opening of Corobrik’s Kwastina manufacturing factory on Wednesday.
The president said the plant is proof that the pledges made by companies at investment conferences hold real economic benefits for the country.
“Here today, we are seeing the results of the R800 million investment pledged by Corobrik at the 2019 South Africa Investment Conference.
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“This facility is indeed impressive. I am told it is the largest brickmaking project in the world outside of China. It joins Corobrik’s extensive operations in the country, which include 13 clay brick plants and 14 kilns.”
The new project is also expected to reduce the company's carbon footprint.
Kwastina is expected to generate at least 20% of its electricity needs from renewable resources.
"There are also plans to reduce natural gas consumption for the kilns by at least two-thirds," added Ramaphosa.
Ramaphosa said the contribution has edged government closer to its R1.2 trillion investment target over five years.
