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Written by

Edward West





By Edward West

 * Business Report
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SAPPI SOUTHERN AFRICA TO INVEST R10.8BN IN KWAZULU-NATAL



Sappi Southern Africa plans to invest R10.8 billion into its KwaZulu-Natal
operations over the next five years, it announced Thursday. File photo

Published Nov 15, 2024

 | Published Nov 15, 2024



Share

Edward West

edward.west@inl.co.za

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Sappi Southern Africa plans to invest R10.8 billion into its KwaZulu-Natal
operations over the next five years, it announced Thursday.

This announcement was made at the KZN Investment Conference in eThekwini this
week - the investment pledge by Sappi was the second biggest out of total
investment pledges of R76bn.

Sappi is deeply rooted in the province, with three operational paper and pulp
mills in Umkomaas, Stanger, and Mandeni, as well as 165 000 hectares of forest
plantations. The international paper and packaging group creates thousands of
employment opportunities, both directly and indirectly.

The last time Sappi made a significant investment pledge in the province was in
2018, notably a R7.7bn Saiccor Mill upgrade and expansion project.

The group is also one of the largest users of the Durban Port, moving about 120
containers per day to export its dissolving pulp, primarily to India, Europe,
China, and other Asian countries.

“We saw this as an ideal opportunity to pledge our support, demonstrating our
confidence in the future of the province as a premier destination for
investment. This conference also served as a vital networking platform to
express our appreciation for the work done to date in addressing some of the
logistical challenges we face,” said Alex Thiel, the CEO of Sappi Southern
Africa, in a statement.



He said that they would continue to grow the forest sector value chain,
empowering local communities through Enterprise and Supplier Development
initiatives, by supporting more than 4 000 timber growers through the Sappi
Khulisa Enterprise Supplier programme.

Another 102 SME suppliers in the region benefited from more than R250 million
spent on their development, in addition to having the opportunity to become
suppliers, along with the many other suppliers in the province who support our
operations through their products and services.

Thiel said that at the conference they were also able to discuss ongoing
concerns, such as the delayed rebuilding of the South Coast Railway Line and the
availability of railway equipment, which the group believes may hinder companies
operating in KZN from reaching their full potential.



Earlier this month, the international wood fibre products group reported that
its financial performance for the year to September 30 had exceeded its
management’s expectations, and the fourth-quarter dividend more than doubled,
with a standout performance in the South African operations.

Despite the market continuing to be affected by global economic and geopolitical
tensions, supply chain instability, and fluctuating input costs, adjusted
earnings before interest, tax, depreciation, and amortisation (EBITDA) for the
first quarter of 2025 was expected to be “significantly above that of the prior
year.”

BUSINESS REPORT





Related Topics:

south africafree market economybusinessfinancegdpinvesting

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