Samsung Electronics recently announced that it will construct its African manufacturing firm worth US $20m in Dube Tradeport, South Africa. Construction will begin later this year and the investment will last until 2018.
The firm will cater for the rising demand for Samsung goods in Africa and help save on cost logistics, while consolidating Samsung’s leadership in electronics manufacturing.
Dube Tradeport was chosen for its proximity to Durban harbour.
According to Lionel October, Director-General of the Department of Trade and Industry in South Africa, the company would initially manufacture household goods and appliances, but once fully established, high-end technology will be the focus.
The South African Government has assured the company of tax incentives, tariff cuts and support where necessary.
South Africa’s emergence as Africa’s new manufacturing hub for South Korea will soon replace China and Vietnam.
The new firm in Africa is expected to generate up to US $10bn in the next year.
Read the full article here: http://constructionreviewonline.com/2014/07/28/samsung-electronics-construct-us-20m-manufacturing-firm-south-africa/