Centurion Aerospace Village has reached a critical funding stage

JOHANNESBURG – The development of the Centurion Aerospace Village (CAV) in Pretoria at a cost of R1.1billion has reached a critical stage in terms of its funding requirements.

Lance Schultz, the chief executive of the CAV, an initiative of the Department of Trade and Industry (dti), said the change of leadership in government had placed the aerospace industry in a holding pattern, with the CAV’s application for funding being held up by red tape and National Treasury approval.

Schultz said the total investment required for the development of the CAV was about R1.1bn over a five-year period, but some issues needed to …read more