South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility
By Abdul Rahman Bangura-
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– According to the Minister in the Presidency Khumbudzo Ntshavheni, Stellantis South Africa has signed a memorandum of understanding with the Industrial Development Corporation and the Department of Trade, Industry and Competition (dtic) to develop a new vehicle manufacturing facility.
The manufacturing plant is scheduled to be set up in a South African Special Economic Zone (SEZ) by 2025. Stellantis is one of the world’s driving automakers and a mobility providers.
The Minister in the Presidency Khumbudzo Ntshavheni said its storied and iconic trademarks embody the passion of their creative founders and today’s customers in their innovative products and services – including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move, and Leasys.
Cabinet similarly accepted the approval by the Competition Tribunal of the international merger between European brewer Heineken and South African alcohol producer Distell Group Holdings.
“The merged entity will promote worker ownership by establishing an employee share ownership plan and giving workers board representation,” Ntshavheni stated.
The merger, which will establish the biggest cider manufacturer in the country, is liable to a spectrum of public interest circumstances that contain the publicity of supplier development, maintenance of local procurement, promotion of investment in research and development, and boosting local manufacturing capacity.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent