Cabinet has welcomed Saudi Arabia’s announcement that it will invest over R9 billion in the construction of a platinum smelter and metals refinery in Limpopo.
Various projects around the country, including those aimed at ensuring water security, were also raised during a post-cabinet briefing in Parliament yesterday.
Briefing the media yesterday, Minister in the Presidency Khumbudzo Ntshavheni said: “This new investment is a strong vote of confidence in our nation and builds on the first phase of our investment mobilisation drive under the sixth administration that saw our nation surpassing its investment target by 26% to reach a total of R1.51 trillion in investment pledges. South Africa is now targeting R2 trillion in new investments over another five-year period between 2023 and 2028.”
VIDEO | Post-Cabinet media briefing:
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