Coega Steels, a producer of steel products, aims to establish a state-of-the-art R160 million rolling mill facility project in the Eastern Cape, with the goal to be built by next year.
CEO of Coega Steels Hassan Khan said in a statement on Friday that the facility’s modern machinery and cutting-edge technology would serve as a catalyst for the local manufacturing sector, supplying reliable and efficient sources of steel and finished products to vital industries such as construction, automotive, and infrastructure development.
The project’s timeline was set for nine months, with civil construction of the rolling mill scheduled to commence in late September 2023, and the targeted completion date set for May 2024.
He added that the Coega Rolling Mill project was set to make history as the first rolling mill in the Eastern Cape, elevating the region’s access to rolled metal products for downstream manufacturing.
“This localised supply chain will significantly reduce the dependence on Gauteng-based manufacturers and their associated transport costs, thus positioning Coega Steels as a competitive player in the downstream industry,” said Khan.
BUSINESS REPORT