* South Africa’s Ramaphosa on investment drive
* Xi made state visit ahead of BRICS summit
* Project to produce alloys including stainless steel
By Alexander Winning
JOHANNESBURG, July 27 (Reuters) - Chinese investors signed agreements to build a $10 billion metallurgical complex in South Africa during President Xi Jinping’s state visit this week and hope to start construction next year, an executive involved in the project and a provincial official told Reuters.
South Africa’s President Cyril Ramaphosa said at a joint news conference with Xi on Tuesday that China had committed to invest $14.7 billion in the South African economy, but neither leader mentioned the $10 billion complex.
Ramaphosa is on a mission to kick-start economic growth after a decade of stagnation and is targeting $100 billion in new investment over five years.
The complex, which is still in the planning stage and envisages building a stainless steel plant, a ferrochrome plant and a silicomanganese plant, is a much-needed vote of confidence in the sputtering South African economy.
Editing by James Macharia and Jason Neely