Nissan’s R3bn outlay proves cynics wrong, says Ramaphosa
President also says plan to build new Navara at Rosslyn is ‘a milestone in foreign investment’
Japanese vehicle maker Nissan’s R3bn investment in its SA subsidiary will virtually double production, create 1,200 new jobs and turn the company’s Pretoria assembly plant into a world-class manufacturing base, Nissan SA MD Mike Whitfield said on Wednesday. President Cyril Ramaphosa, who attended the announcement ceremony at the plant in Rosslyn, said this was a "milestone" in foreign investment. Following his investment conference late in 2018, when South African and international companies pledged R300bn, some doubters had wondered if the money would really be spent. "Today we are proving the doubters wrong," Ramaphosa said. Wednesday’s announcement also follows miner Rio Tinto’s commitment to invest R6.5bn in the Richards Bay Minerals project. Trade & industry minister Rob Davies said at the Nissan event that automotive companies had committed to spending R40bn over the next five years. "This is the first step," he said. The Nissan investment will enable its Rosslyn assembly pla...
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