August 09, 2017: KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs, Sihle Zikalala, officially opened the new multi-purpose iDube Cold Storage facility, located within Dube TradePort Special Economic Zone recently.
iDube Cold Storage has invested R99.2 million in the new state-of-the-art facility, which will cater to the growing demand in chilled and frozen perishables storage within the region. The facility will initially cater to meat importers servicing local retailers as well as exports of dairy, fruit concentrate and citrus to markets in the European Union and the Far East, informed Dube TradePort in a press release.
“From production to processing, it is essential that we provide healthy and highly competitive business operating environments, which will present new opportunities for both established and emerging enterprises. To date, we have been successful in attracting R1.5 billion in private sector investment, through various developments within Dube TradePort Special Economic Zone, with a further R4.25 billion in investment that is in the immediate pipeline for developments are to be located within the second phases of Dube TradeZone,” said MEC Zikalala.
The new facility is funded in part by KZN Growth Fund a public entity that is under the KwaZulu-Natal Department of Economic Development, Tourism and Environmental Affairs.
“KZN Growth Fund provided R63.4 million in funding towards iDube Cold Storage to help establish one of the largest multi-temperature cold storage facilities in KwaZulu-Natal. The facility is designed to handle both chilled and frozen perishable products.
‘Our funding of this project was motivated, in part, by our support of the Black Industrialist Programme, as 50 percent of the iDube Cold Storage’s shareholding is in the hands of previously disadvantaged individuals. Furthermore, one of the medium term targets of the company will be to allocate 10% of the shares to employees who will be drawn from BEE qualifying groups,” said Aubrey Shabane, Acting CEO, KZN Growth Fund.
iDube Cold Storage falls under the umbrella of the Department of Trade and Industry’s Black Industrialist Programme, which is amongst the initiatives that are aimed at delivering on South Africa’s transformational goals that are being rolled out within Dube TradePort Special Economic Zone, as well as other locations that are supported by the Provincial Government of KwaZulu-Natal.
iDube Cold Storage’s 4 500 square meter facility has the capacity to handle 8 600 mobile pallet positions, which can store up to 12 000 tonnes of perishable product. In addition to this, the facility is also equipped to provide a number of ancillary services that include weighing, sorting, repackaging, order picking, and container plug in of products as well as providing distribution and logistics solutions.