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Shaun is in talks with the South African Department of Trade and Industry to make it possible for BuoyCon customers and investors to access a suite of fiscal incentives offered through its Special Economic Zones. These include:

• Preferential 15% corporate tax and tax relief,
• Accelerated depreciation allowance on capital equipment and assets,
• Employment tax incentive, and
• Customs Controlled Area or Free Trade Zone approach which incorporates zero import/export duties and VAT.

Saldanha Bay Port is an important resource for the sustainable growth and development of South Africa’s West Coast region. The port can accommodate vessels and offshore mobile drilling units up to a 21.5-metre draft. It is the largest natural anchorage and port in the Southern Hemisphere with the deepest water. Located 60 nautical miles northwest of Cape Town, it is situated at longitude 17º 58′ E and latitude 33º 02′ S, and is partly protected by a 3.1km-long artificial breakwater.

Several ambitious plans for Saldanha Bay Port, which include more facilities for ship and oil rig repair and to cater for the various aspects of the developing oil and gas industry, are also in the pipeline.