Hon Speaker, the ANC welcomes the recent launch by Nestl of investment projects to the value of R500 million in Babelegi, Hammanskraal. These projects include, amongst other things, the construction of a 16 000 m factory for the manufacturing of cereals. Moreover, the Babelegi investment alone has created over 130 permanent jobs and 300 indirect jobs over a 20-month period during the construction phase. The two new Nestl production sites in Babelegi will be for the manufacturing of the company's breakfast cereals and, in addition, new production lines.
This undertaking reflects the ANC-led government's resolve to deepen and strengthen the presence of agro-processing in South Africa. This investment thus represents one of the few investment opportunities taken recently in South Africa by a global multinational company in the agro-processing area.
The ANC applauds the Nestl Group for their show of confidence in the South African economy and for their continuous investment in South Africa. In line with their long-term commitment to business sustainability, growth and economic development, this will add more value and play a significant role in food security in South Africa and the rest of the world. I thank you.