AUTOMOTIVE
South Africa’s Industrial Development Corporation (IDC) will sign a ‘Joint Development Agreement’ with the Beijing Automotive International Group (BAIC) in China this weekend, earmarking the Eastern Cape as the proposed location for a new automobile plant. Speaking in Parliament on Thursday, Economic Development Minister Ebrahim Patel said the IDC and BAIC hoped to finalise the feasibility studies to “enable the plant to complete construction by 2018”.
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