Billion Rand Investment into Atlantis

International investors choose Cape Town for manufacturing facility.

Last Update 02 March 2017

The City of Cape Town’s Mayor, Patricia de Lille announced in a press conference on 1 March 2017, that PEGAS NONWOVENS, a Czech non-woven fabrics manufacturer had chosen the Mother City as their investment location. The investment is set to fund a state-of-the-art manufacturing facility that will be built in Atlantis.

The investment comes after fDi Intelligence - a division of the Financial Times, ranked Cape Town as 21st in the world on the list of cities with the best foreign direct investment strategies. Mayor de Lille stated that this was a result of approaches they implemented in 2011, as well as the 2012 Economic Growth Strategy which set out the key intervention areas for investment opportunities. The continued work in these areas have made the city a favourable option for foreign investment.

Mayor de Lille stated that, “Through selecting Cape Town, you have signalled great confidence in our region as a safe investment location”. She further added that the city was open for business and that its aim remains to fast-track and facilitate investments successfully.

Congratulations to #PEGAS for furthering their international expansion. Now Cape Town is part of their journey towards even greater success.

— Patricia de Lille (@PatriciaDeLille) March 1, 2017

The city has announced that a multidisciplinary team will provide assistance and support.. Cape Town’s Enterprise and Investment team will ensure PEGAS NONWOVENS begin their development project with ease. The Atlantis investment facilitation office will be in full support especially in terms of the current service delivery mandate.

The result of this will mean an investment of more than R1 billion into Cape Town and the lives of residents who will gain job opportunities and skills improvement.

By Tarina Meiring 

---

Interested in the Mother City's achievements? Then see when we became the e-commerce hub of South Africa. Check out the City's latest skyline residential development in Bree Street as well as the opening of the Silo Hotel in 2017. 

---

Check out how Cape Town provided over a million people with internet through their fibre-optics cables. 

---

Learn more about the water restrictions and how you can do your bit to help. 

---

The Mother City is fast developing so to keep you clued up; we’ve rounded up some of the hottest latest additions to Cape Town in our New Restaurants and Hot Spots overview. Discover it

---

Use our events section for an up-to-date overview of happenings in Cape Town. Also, don’t forget to subscribe to our newsletter and if you have a smart phone, add m.capetownmagazine.com to your home screen for quick access on the go!

Follow us on Twitter, like us on Facebook, join our Google+ circle, connect with us on LinkedIn, check out our photos on Instagram and follow our Pinterest boards for updates on what’s happening in and around the Mother City!