The Automotive Investment Scheme is an incentive designed by the Department of Trade and Industry to grow and develop the automotive sector through investment in new and replacement models and components that will potentially increase plant production volumes, sustain employment, and strengthen the automotive value chain.
DTI asset verification
The Department of Trade and Industry required the services of a multi-disciplinary engineering consulting firm to do the asset verification assessment of the Automotive Investment Scheme. The appointment included verifying the claimants’ assets’ price, the asset validity in terms of the Automotive Investment Scheme guidelines, and the usability of the assets within production.
Delta BEC was appointed by the Department of Trade and Industry to do asset verification assessments of the Automotive Investment Scheme.
The Delta BEC Industrial Engineering Department was responsible for a number of site visits to different plants to audit the assets at the plant with respect to the Automotive Investment Scheme.
In terms of this scheme, manufacturers are given grant funding. The objective of the audits is to confirm that assets as claimed are:
- Used in production either at the claimant’s production plant or at the sub-tier vendor.
- Tagged correctly with the asset number
- Of current technology.