South32, AITF, and DTIC Secure R200 Million Funding to Boost Richards Bay Manufacturing
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South32, in collaboration with the Automotive Industry Transformation Fund (AITF) and the Department of Trade, Industry and Competition (DTIC), has secured R200 million in funding to support Binpelela Alloys' production of rim alloys in Richards Bay. This funding aims to enhance local manufacturing and job creation, benefiting six of South Africa's seven local Original Equipment Manufacturers. The agreement represents a significant investment in the region's manufacturing capabilities.
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