SA signs plan to support R600bn steel industry

13 June 2021 - 16:07 By Bloomberg
SA has signed a plan to support the country's steel industry, the department of trade, industry and competition said.
SA has signed a plan to support the country's steel industry, the department of trade, industry and competition said.
Image: Reuters

SA has signed a plan to support the country's steel industry, the department of trade, industry and competition said.

The so-called Steel and Metal Fabrication Master Plan agreed by the government and stakeholders in the industry that contributes R600bn to GDP “provides a blueprint for the industry to re-energise itself and expand production,” the department said on Sunday in a statement posted on its website.

The plan comprises six priority areas, including addressing supply- and -demand-side measures and agreements related to the African Continental Free Trade Area, the world’s biggest free-trade zone, the department said without giving details. An oversight council made up of 35 members of industry, labour groups and public sector officials has been set up to drive its implementation, it said.

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