Original Source: www.iol.co.za
Tongaat said on Tuesday breaking ground on the mixed use development was due to commence in the first quarter of 2019.
The first phase of the 2 000-hectare project local near Durban is expected to create 19 000 construction jobs and over a 20 year period Ntshongweni is expected to generate 400 000 temporary construction jobs, 35 000 permanent jobs, R700 million in annual rates for the eThekwini municipality and R5.1 billion in annual tax revenue.
Ntshongweni‘s prime location on the N3 highway which links Durban to the economic heartlands of Gauteng and the Free State provinces will likely bring substantial economic benefits especially from the logistics sector.
“The N3 corridor is currently the country’s busiest transport route and will be upgraded in line with the aim of improving the country’s logistics and transport links,” Tongaat Hulett Property managing director Michael Deighton said.
“Linking into this important strategic corridor, the people-centred Ntshongweni Urban Development will create a benchmark for the way in which new, integrated, inclusive South African urban precincts are developed. From urban planning through to the residential, retail, commercial, recreational, logistics and light industrial activities, the mixed uses of this area are vast.”
Tongaat Hulett is an agriculture and agri-processing business, focusing on the complementary feedstocks of sugarcane and maize.
– African News Agency (ANA)Tags: Approval, commercial, durban, Free State, Gauteng, Industrial Activities, Light, Logistics, Michael Deighton, Ntshongweni, Recreational, residential, retail, tongaat hulett, Urban Development