JOHANNESBURG (Reuters) – Chinese state-owned Beijing Automobile International Corporation (BAIC) has signed a deal to invest 11 billion rand ($823.30 million) in an industrial zone in South Africa’s Eastern Cape province, the operator of the zone said on Thursday.
The deal will see BAIC open an automotive manufacturing plant in the Coega Industrial Development Zone near South Africa’s Nelson Mandela Bay, the Coega Development Corporation said in a statement.
($1 = 13.3608 rand)
(Reporting by TJ Strydom; Editing by Alexandra Hudson)
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