China International Development and Investment Corporation Limited (CIDIC) (Hong Kong) with Revelations Isambulo Holdings (Pty) Ltd (South Africa) and Huntergreen Investcorp Limited (Nigeria) to build and develop two Biofuel Manufacturing Plants to the value of ($1.5bn) (R16.5bn) projects in Kwa-Zulu Natal and Mpumalanga Provinces  

China International Development and Investment Corporation Limited (CIDIC) has entered into official cooperative agreement with revelations Isambulo Holdings (Pty) Ltd (South Africa) Both parties agree to invest and develop two biofuel manufacturing plants with designed capability of processing 4,700 tons per day of reap seed, which will result 2,100,000 liters of biodiesel and jet fuel per day and 1,800 tons of meal per day and 61,000 tons of glycerin per year to be produced. The produced diesel quality will be equivalent to the American quality standard ASTM-D6751-03

The two Bio Fuels manufacturing plants which are to be built and established in the provinces called Amadlange Tribal Trust Village in Kwa Zulu Natal and Mpumalanga provinces under the leadership of Inkosiu Ntsele (King Ntsele) in South Africa.

A South African Joint venture company namely China Africa Biofuel Investment Corporation Limited (CABIC) is now incorporation process. China international development and Investment Corporation Limited being the major shareholder of 52% with Revelations Isambulo Holdings (Pty) Ltd with shareholding of 30% as the second largest shareholder. Huntergreen Investicorp Ltd, A Nigerian based investment company with shareholding for 10%, While the community origination Amadlange Tribal Trust Village counsel shareholding of 8% in the two Projects

Mr. Oswald Wong, President and CEO of CIDIC, has commented to develop and build local communities in South Africa, and to commence further business developments for the Africa Continent. Presently, CIDIC are participating in various developments in Middle East and African region, and is targeting to develop more African markets. Mr. Kelly Morekwa Lekoto, CEO for Revelations Isambulo Holdings (Pty) Ltd, has committed to the development for local communities for job creation in South African Economy.

"China Africa Biofuel Investment Corporation Limited has been at an advanced stage of readiness for some time now to construct the country’s largest refinery (766 million liters per year) for the production of fuel grade bio-Diesel and Bio Jet Fuel from Reap Seed at a cost of R6.5bn.

The two projects estimates cost with a total project value of $ 1.5 Billion USD (R16.5 Billion).

The joint venture company has qualified a Chinese Construction Contractor to be the EPC Contractor. South African companies will participate in the developments of the projects.

The two projects will employ at least 50 % for the workforce locally in South Africa.

This will result a job creation of 500 jobs in the construction for the two plants in South Africa.

Create up to 25 000 jobs in the agricultural sector alone.

CIBIC says that at the current proposed level of a 2% blend of biodiesel with Diesel and Jet Fuel.

"We are, therefore, sitting on the brink of a historical moment in agricultural development, rural transformation and energy security in South Africa.

“The economics and catalytic impact on transforming South Africa’s agricultural sector, rural development and the fortunes of farmers through the impact of Reap Seed alone is staggering," said Mr. Kelly Morekwa Lekoto.

"Unlocking the biofuels industry provides a captive domestic source market to tap into and which can further stimulate demand."

It said that this includes the sector’s contribution to job creation, rural development, agri-business enterprises development and transformation of the agricultural sector through the participation of new and emerging black farmers.

Development

Agriculture has always been considered to be the main sector for the province’s economy.

The South Africa Development Council (SADC) has supported the idea of the provinces becoming a leader in biofuels production.

He said the projects will represent a major vote of confidence in the provinces as an agricultural business and investment destination, as well as contributing to other national strategic imperatives like energy security and diversification, industrial development, agricultural and rural development.

"The project is an example of excellence in public-private collaboration, to create sizable emerging black businesses and black farmers in South Africa.