SABC News.com - SA’s unemployed youth to benefit most from green economy :Sunday 4 December 2011

SA’s unemployed youth to benefit most from green economy

Sunday 4 December 2011 12:22

SABC

President Jacob Zuma says the country's unemployed youth will benefit from government's multi million rand investment in the green economy. The Industrial Development Corporation will provide up to R25 billion for investments in green economy activities over the next five years.
 
It will also actively pursue investment opportunities in manufacturing linked to renewable energy initiatives.
 
Addressing the World Economic Forum roundtable on the sidelines of the climate change summit in Durban, President Zuma said the recently adopted Green Economy Social Accord will ensure that young people benefit from governments low carbon economy investment projects.
 
"Government and business have set a target of 80% youth amongst new employees in the manufacturing and installation of solar-water heating systems as well as government's public works programmes to green the economy. As you can tell from the accord, the main opportunities will arise around renewable energy, biofuels, cleaner coal, more energy efficient technologies for production and greening our buildings," says Zuma.
 

Transnet will invest about R63 billion in the freight rail system over the next five years

Speaking at the same discussion, the president also said that government is to review its rail investment programme in order to accelerate the shift of freight transport to rail from road.
 
Government has already announced that it will invest in mass-transport systems to reduce reliance on private cars. State-owned commuter rail company, Passenger Rail Agency of South Africa, will invest R20 billion in new trains by 2014, most of which will be manufactured locally. President Zuma says initial steps have been taken on bus rapid transport and commuter rail.
 
"The state-owned transport enterprise, Transnet, will invest about R63 billion in the freight rail system over the next five years. For its part, organised business will continue to promote greater use of rail freight by companies," Zuma added.

 

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