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Infrastructure investment is key to steel industry growth, says Seifa

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Industry leaders say though investment into new infrastructure is key, it's also important to focus on repairing the existing infrastructure.

Industry leaders say though investment into new infrastructure is key, it's also important to focus on repairing the existing infrastructure.Stakeholders in the Steel industry say investment in infrastructure development can open more opportunities in the industry.

He gives an example of a multinational company that had to invest in a large-scale backup fire suppression system for R12 million. “As necessary as this investment was, the company partially failed an ad hoc insurance inspection because there was no water coming out of the grid-based fire suppression system.”“The South African Reserve Bank has on numerous occasions highlighted its concern about the pace of increases in administered prices and their impact on general inflation,” he says.

Coming to logistics, he believes there is a need to expand the rail network and fix port operations. After that has been done, economic efficiency and connectivity will be enhanced.

 

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