Nokwane- The Minister of Commerce, Industry and Trade Manqoba Khumalo on Tuesday commissioned the start of an E 827 million manufacturing project by Eswatini Quantum Works at the Royal Science and Technology Park (RSTP).
Speaking during the site handover and project launch ceremony, the minister said the investment was a direct outcome of engagements initiated by His Majesty King Mswati III during his visit to Turkmenistan last year.
“We are here to hand over the construction site that will be used to erect a manufacturing building for this company that has decided to invest in Eswatini,” said the minister.
He explained that Eswatini Quantum Works originates from Turkmenistan and is a subsidiary of Aydyn Gijela, a company headquartered in the Central Asian nation.
“This is the work that His Majesty initiated when he visited Turkmenistan, and we are really happy that after several engagements following His Majesty’s visit, we are now in a position to officially launch the first project by this great company,” he said.
The minister said the launch marked the beginning of a broader investment partnership, noting that additional projects from the company would be announced as its operations expand in Eswatini.
“We will in time be introducing further projects that this company will do as it grows in the Kingdom of Eswatini,” he noted.
Construction of the manufacturing facility has been awarded to local engineering and construction company Stefanutti Stocks.
“The work that they are going to do here is going to be done by a local company called Stefanutti Stocks, and we are really grateful that they have come to this agreement so quickly because we want to see this work getting off the ground as soon as possible,” he said.
Meanwhile, Executive Head of Investment Promotion at Eswatini Investment Promotion Authority (EIPA) Martin Masilela, said the science park had allocated 8.2 hectares of land for the development, which will begin with the construction of a 4,000-square-metre manufacturing facility.
“The initial factory will employ about 200 people, including 150 skilled and 50 unskilled workers,” said Masilela.
He said the project carries a total investment value of US$51.2 million, equivalent to approximately E 827.97. Of the total amount, Aydyn Gijela will contribute US$11.2 million (about E181 million), while Eswatini Quantum Works will invest US$40 million (about E 646 million).
Masilela said Aydan Gijela is the parent company while Eswatini Quantum Works has been established as its Eswatini-based subsidiary to drive the implementation of the investment.
A representative of Eswatini Quantum Works Chary Mayradov expressed gratitude to His Majesty King Mswati III and the Government of Eswatini for facilitating the investment, describing the launch as the beginning of a long-term commitment to the country’s economic development.
The facility will manufacture aluminium power cables, adding a new industrial capability to Eswatini’s manufacturing sector and supporting demand for power transmission infrastructure in domestic and regional markets.
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