During the tabling of the Freeport Saldanha Industrial Development Zone’s 2021/22 Annual Report yesterday, it was explained that the entity has an anticipated R21 billion investment pipeline which is being realised through the historic signing of the Memorandum of Understanding (MOU) between the entity and Sasol.
This will go a long way in promoting the fiscal independence of the entity while further making use of the significant infrastructure developments that have taken place at the Freeport to date.
On 18 October 2022, Sasol and ArcelorMittal launched their carbon capture, ‘green steel’ plans. During the launch, an MoU was further signed between Freeport Saldanha and Sasol to collaborate on the establishment of a green hydrogen hub.
It was further revealed, during yesterday’s Standing Committee, that the entity is conducting a feasibility study to locate this project on their land.
Sasol and ArcelorMittal South Africa will further be studying the use and offsetting of each other’s emissions, with the goal of achieving net zero carbon emissions by 2050.
In an article by News24, it was explained that the two major industrialists are studying how to use the approximately 1.5 million tonnes of CO2 generated from the Vanderbijlpark Works a year. This CO2 would then be transported to Sasolburg and Ekandustria to replace the use of natural gas.
Going forward, I will be submitting written questions to the Provincial Department of Economic Development and Tourism on the practical benefits of the MoU, and I will be submitting a resolution that the Standing Committee on Finance, Economic Opportunities and Tourism visit Freeport Saldanha to inspect these developments first-hand.
The green economy is an exciting arena with enormous potential. It is essential that we not only recognise its potential but that we also continue to make use of the resources available to us while positioning our province as the green tech hub of Africa.