Chinese investors to build a R132 billion metallurgical complex in SA

If all goes to plan, construction on the project will begin next year.

During President Xi Jinping’s state visit this week, Chinese investors signed agreements to build a R132 billion ($10 billion) metallurgical complex in South Africa.

The complex, which is still in the early planning stages, will include the construction of a stainless steel plant, a ferrochrome plant and a silicomanganese plant. Experts believe the planned project to be a much-needed vote of confidence in the struggling South African economy.

According to Reuters, the plan is to begin construction next year.