The KwaZulu Natal Government has signed a deal with boat builders from Italy (NAVIGO).
Speaking at the signing ceremony on Tuesday this week, Thamsanqa Ntuli, Premier of KZN, said the agreement is to develop a globally competitive superyacht and marine manufacturing industry.
“We are repositioning KwaZulu-Natal as a hub of ocean-based industrialisation—from superyacht manufacturing and coastal tourism to aquaculture, port logistics, and marine component innovation.
The agreement we sign today reflects our intent to co-brand, co-develop, and co-market high-value vessels globally, while jointly investing in research, recycling, and sustainable marine technology” he said.
He also said between 2025 to 2030, the following developments will be completed: R100 billion expanded port infrastructure, especially the Durban Port Expansion, a surge in demand for mid-size vessels for tourism, coastal patrols, and security, investment in dry docks, floating docks, and slipways.He said exports to Mozambique, Tanzania and Angola, are expected to grow in 5 years.
Picture: Katia Balducci, President of NAVIGO with Thamsanqa Ntuli, Premier of KZN.