Egypt: India's TCI Sanmar Chemicals Beefs up Investments In Egypt to $1.5bnSource: www.export-egypt.com 5/29/2017, Location: Africa |
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 Investment and International Cooperation Minister Sahar Nasr had a meeting with Board Chairman of India's TCI Sanmar Chemicals in Egypt PS Jayarama to discuss raising its investments in Egypt in the coming period.
The meeting was attended by the company's executive director, Sherif el Monoufi. During the meeting, Jayarama expressed his company's keenness to beef up investments in Egypt by 300 million dollars to reach 1.5 billion dollars. The company is planning to increase its production of polyvinyl chloride (PVC) from 200,000 to 400,000 metric tons, he added. It will also establish a new factory to produce 135,00 metric tons of calcium chloride granules, Jayarama said, adding this will bring the company's total investments in Egypt to 1.5 billion dollars. For her part, the minister lauded the company's plan to increase its investments in Egypt, underlining that she gave top priority for improving the climate of investments in the country to boost the economy. Jayarama also extolled facilities offered by the Egyptian government for Indian investors in Egypt, in addition to the main advantages of investment in Egypt, topped by its geographical location and skilled workforce. In 2007, Sanmar acquired the Egyptian petrochemicals plant Trust Chemical Industries (TCI), becoming the largest producer of caustic soda and PVC in the Middle East and North Africa region. Caustic soda is used in the manufacture of pulp and paper, textiles, drinking water, soaps and detergents, while PVC is used in the manufacture of underground pipes carrying water, gas and sewage. |
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