QwaQwa:Maluti-a-Phofung The Free State province's economy is poised for significant growth with the introduction of a multibillion-rand initiative focused on boosting investment and industrialization.

According to South African Government News Agency, President Cyril Ramaphosa is set to lead the launch of the R100 billion Free State Catalytic Investment and Industrialisation Project on Friday. The event will take place at the Phuthaditjhaba Multipurpose Centre in QwaQwa.

The Presidency has stated that the project aims to enhance sectors such as automotive assembly, electric mobility technologies, and energy systems, while also bolstering logistics, skills development, and local supplier networks.

This extensive project, backed by an investment of approximately R100 billion, is anticipated to play a key role in manufacturing and industrialization, contribute to the green economy, and support the energy transition. Furthermore, it is expected to create around 6,500 permanent jobs.

The launch will be a collaborative effort, hosted by Free State Premier MaQueen Letsoha-Mathae, alongside the Maluti-a-Phofung Local Municipality and Chinese investors, Joy Long-YJC.