TCI Sanmar Chemicals, an Indian industrial giant, plans to invest over $300 million to boost its production capacity in Egypt. The company is also exploring the possibility of building a sea dock west of Port Said Port to streamline the import of raw materials essential to its operations, according to a statement from the Ministry of Investment and Foreign Trade.
The announcement came following a meeting between Minister of Investment and Foreign Trade Hassan El-Khatib and PS Jayaraman, Chairman of TCI Sanmar Chemicals, to discuss the company’s current activities and upcoming expansion plans in Egypt.
TCI Sanmar began operations in Port Said in 2007 and expanded in 2017 by establishing a second PVC plant along with a new facility for calcium chloride granules.
The company has since grown its business volume in Egypt to $1.5 billion.
The minister reiterated the government’s commitment to supporting both local and foreign investments.
He emphasized that the ministry is actively working to simplify investment procedures and overcome challenges faced by companies operating in Egypt.
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