Establishing an industrial development zone at Saldanha Bay is believed to hold huge possibilities for South Africa.

Its location is ideal for becoming a service, maintenance and supply hub for the growing oil and gas industry. Its proximity to tanker routes that haul crude oil from manufacturing areas to markets is ideal for the port to become a transport hub as well.

South Africa’s Saldanha Bay Industrial Development Zone will launch officially on Oct. 31, according to a report in fin24.

A study revealed that the large and increasing number of tankers that pass by Saldanha Bay going from the West Coast to the East Coast, will need maintenance as well as fabrication, supply and other services.

A feasibility study of Saldanha Bay was done in 2011 on the bay’s potential to be an IDZI. It was identified as one of the 18 IDZs to be developed.

The project has the potential to create almost 12,000 total jobs and attract foreign direct investment worth approximately R9.3 billion over 25 years, said Rob Davies, minister of trade and industry.