The Mangosuthu University of Technology (MUT) and the Richards Bay Industrial Development Zone (RBIDZ) have entered into a memorandum of understanding to provide skills development.
Speaking at the sod-turning ceremony of the R35 million Techno Hub project, KwaZulu-Natal (KZN) MEC for Finance Belinda Scott said MUT will play a supportive role at the Techno Hub with Technical Vocational Education and Training (TVET).
The TVET and RBIDZ have also entered into a recognition agreement and both parties have prepared lease documents for signature.
MEC Scott said one of the most interesting features about techno hubs is that they bring together like-minded individuals as well as business people and investors, who focus on and emphasise adaptation to the local context while, at the same time, forming part of a global movement.
Infrastructure requirements within the Techno Hub site for the TVET/MUT Technology Campus will be formulated for approval by a provincial steering committee.
The total cost of developing four comprehensive and fully occupied techno hubs in KZN is estimated at
R5.4 billion over a 15-year period.
“The associated operational costs are estimated at R6 billion over the 15-year period,” said Scott.
According to Scott, the current funding would only support the development of the first phase at each of the four locations. The provision of bulk infrastructure, some top structures to initiate the projects, and development facilitation and planning occurs during the first
phase.
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