SAB injects R825 million into prospecton plant in KwaZulu-Natal
South African Breweries has unveiled plans to open a multi-million rand prospecton plant in KwaZulu-Natal as the company seeks to address unemployment. SAB hosted KwaZulu-Natal Premier Nomsa Dube-Ncube as the company CEO Richard Rivett-Carnac tabled their plan. The prospecton brewery in Durban will cost SAB in the region of R825 million and the event was
SAB injects R825 million into prospecton plant in KwaZulu-Natal
South African Breweries has unveiled plans to open a multi-million rand prospecton plant in KwaZulu-Natal as the company seeks to address unemployment.
SAB hosted KwaZulu-Natal Premier Nomsa Dube-Ncube as the company CEO Richard Rivett-Carnac tabled their plan.
The prospecton brewery in Durban will cost SAB in the region of R825 million and the event was also graced by the MEC of Economic Development, Environmental Affairs, and Tourism Siboniso Duma.
BusienssTech reports that Rivett-Carnac unpacked the impact of the multi-million rand investment, which was pledged at the South African Investment Conference in March this year.
PREMIER DUBE-NCUBE OPTIMISTIC ABOUT INVESTOR CONFIDENCE INTO KZN ECONOMY AFTER SAB INJECTS OVER R800 MILLION. #KZNRising #GrowingKZNTogether READ MORE: https://t.co/FnqWwp6weg pic.twitter.com/tzh8ni6iKW
— KZN Provincial Gov (@kzngov) November 28, 2022
It is reported that the Prospecton Brewery expansion will include a new ‘Flavoured Alcohol Beverage Blending Plant’, which will bring direct full-time employment for 56 people with new skills development drives aimed at upskilling workers on new processes.
“The additional capacity due to the expansion will result in a significant about of jobs in the province over the long term in areas such as transport, retail, and agriculture,” said Rivett-Carnac.
“We anticipate this expansion to increase demand for raw materials, labour, utilities, and equipment within the brewery, thus stimulating economic activity in our country and the province.
“These investments help us uplift the province and the communities that we serve. By investing in our brewery, we can increase our capacity and increase our tax contribution as well as our workforce.”
Looking at the value chain, the project will also lead to the creation of 25,000 additional jobs and these will see the procurement of 28 additional local suppliers of goods and services that will generate R4.4 billion in additional GDP for the economy.
With SAB employing 572 workers in the province of KwaZulu-Natal, about half work at the Prospecton Brewery.
The country’s biggest brewer said operations support over 17,000 jobs in KwaZulu- Natal, equivalent to around 0.7% of provincial employment.
Furthermore, the CEO said this massive investment coincides with a further R270 million the company ploughed into its Ibhayi Brewery in the Eastern Cape.
The project brings SAB’s total South African investment commitment to R4.5 billion – thus adding impact to an industry that already contributes R43 billion in tax and accounts for 1 in every 66 jobs in the country.
