AUTOMOTIVE
South Africa’s State-owned Industrial Development Corporation (IDC) has indicated that it and the BAIC Automotive Group, of China, will announce details of a new multibillion-rand motor vehicle manufacturing plant in Eastern Cape later this month. The development financier will host its annual results presentation at the Coega Industrial Development Zone, near Port Elizabeth, in the Eastern Cape, on August 30. It will use the occasion to unveil plans for automotive investment.
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