Indian cos plan $2.5 bn investment in South Africa

Indian companies have shown keen interest to invest about $2.5 billion in the metals and automotive sectors in the Port Elizabeth region of South Africa, a local trade official said.

"Among Indian companies, the total value of investment projects being negotiated exceeds R16-billion ($2.5 billion) and covers the metals and automotive sectors," Belu Mabandla, development manager of the Coega Development Corporation, said in a statement.

He said at least three investments from India would be signed during 2008-09.