Page 43 - Provincial Treasury Estimates.pdf

Estimates of Provincial Revenue and Expenditure (EPRE) -2023/24 Financial Year
Obtained in January and February 2023 respectively. The
estimated value of these investments are R4.6 billion. To date
the investment value of all IPP installed in the province has

totaled R36.23 billion. In the recent Bid Window 6 energy
procurement round the Province lost six proposed projects with

a total generation capacity of 1012 megawattts (approximately
R21 billion in investment value). These projects failed to be
concluded due to the unavailability of ESKOM Transmission

Grid Capacity in the Province.
OFF-GRID household connection: Following the successful rollout of the OFF-GRID households

electricity connection programme in Raymond Mhlaba Local
Municipality the provincial government working with the
Department of Minerals and Energy, and ESKOM is planning to

expand the programme to additional municipalities, benefiting
more than the initial 57 households in Upper Blinkwater
Mthocwa community.

ECONOMIC SECTORS DEVELOPMENT

Eastern Cape Development Cooperation

ECDC is mandated to promote the EC as an attractive destination for Foreign Direct Investment (FDI) and

Local Direct Investment (LDI). In addition, the ECDC is tasked with supporting the existing investor base to
encourage reinvestment and expansion and use of the province as a base for exports to global markets. In
pursuit of this mandate, the ECDC, in collaboration with provincial partners, organized a Provincial

Investment Conference on 16 November 2022 at the East London ICC.

The Conference allowed the Province to drive investor messaging regarding the support and coordination

of investments across the three spheres of government. The Conference demonstrated that the Province
has a compelling investment value proposition having secured investments totaling R171.45 billion since
the start of the 6th government administration which has created 21 664 direct jobs opportunities.

Furthermore, 10 new investment projects were announced for the first time at the conference. These

recently announced new investment projects valued at R46.08 billion will lead to the creation of additional
employment opportunities during construction and operation phases. Of these newly announced
investments, projects worth over R1.336 billion are underway with 1 198 jobs to be created.

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