Faizel Patel, Radio Islam News - 26-06-2018
German carmaker Mercedes Benz has invested 600 Million Euro (R 10 billion) in the expansion of its East London plant.
Mercedes Benz says the investment is a sign of the automaker’s commitment to South Africa and efforts to revive economic growth as well as the socio-economic development of the East London region.
The luxury carmakers new generation C Class is one of the vehicles that’ll be built at the site.
President Cyril Ramaphosa along with other South African and German guests visited the plant this afternoon where he emphasized government’s priority to encourage significant new investment in the economy which is necessary to realise economic growth, employment and reduce inequality.
“This investment by Mercedes-Benz Cars endorses South Africa as a favourable destination for investment; and correspondingly, demonstrates our determination to work with all social partners to seize the opportunities that are opening up for greater investment and faster growth.”
The year 2018 marks the sixtieth anniversary of Mercedes-Benz passenger vehicle production at the East London plant.