News - Date: 21 February 2003
LOUIS TRICHARDT – History was made on Tuesday with the signing of a historical development agreement between a Chinese development company based in South Africa and the Makhado Municipal Council.
The agreement between Wealsweet Estate Development and the local Council entail the development of a coloured steel metal steel and plastic processing plant in Extension 5 on Council land. The land has been vacant for more than twenty years and consists of fourteen industrial erven comprising 14,4ha, which were sold to the development group for an amount of just over R288 000. At this stage the draft development plans make provision for the construction of four factory units, each comprising 11 880m². The estimated value of the development is in excess of R103 million and will create over 200 local job opportunities in what is to be known as the Makhado Industrial Park.
Tuesday's singing of the Deed of Sale and Development agreement between the two parties will be followed up with the signing of a Twinning Agreement between the Makhado Municipal Council and the DanDong Municipal Government in the Peoples Republic of China in March this year. It will bring to an end months of negotiations between the two countries. Construction on the factories is said to commence shortly after the singing of the Twinning Agreement and will in all probability be finalised by December this year. Unless there are technical delays, it is estimated that the factory will be fully operational by January 2004.
The product to be manufactured by the factory is unique in the sense that it has not been manufactured in South Africa and many other countries. It has also not been available in the South African market. The product can be used for both walling and roofs for any type of building. The material is watertight and provides excellent insulation against both heat and cold and is guaranteed fade free for up to forty years. According to earlier reports, 60% of the factory's production will be exported to other countries.
Tuesday's singing of the agreement, held at the Mountain View Hotel, was attended by the Municipal Manager, Mr Reuben Rambado on behalf of Council and Mr Hui-yu Tian, Chairman of Wealsweet Estate Development.