Question NW2888 to the Minister of Trade, Industry and Competition
14 October 2022 - NW2888
Cuthbert, Mr MJ to ask the Minister of Trade, Industry and Competition
(1)What total amount has been invested in the foundry and/or mini-mill industry by the Industrial Development Corporation (IDC) since 2010, (2) will he furnish Mr M J Cuthbert with an itemised list for each (a) year and (b) individual investment; (3) what is the debt to equity proportions for each investment; (2) what amount has been written off in the same period (a) for each investment and (b) in total?
Reply:
The IDC has approved R14,4 billion of funding in the Foundry and/or mini mill industry since FY 2010, in the following forms: industrial loans of R5,99 billion, equity of R8,44 billion and grants of R4m.
In addition, the IDC provided guarantees of R5,5 billion to companies in the sector.
A supplementary reply will be submitted shortly, with additional information.
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