Cairo, India’s TCI Sanmar discuss boosting investments to $1.5B

CAIRO – 29 May 2017: Minister of Investment and International Cooperation Sahar Nasr discussed with TCI Sanmar Chemicals’ Director PS Jayaraman the means of increasing the Indian group’s $1.2 billion investments in Egypt to $1.5 billion.

TCI Sanmar voiced the desire to inject about $300 million investments in producing sodium hydroxide via increasing the production of PVC material from 200,000 metric tons to 400,000 metric tons, and thus recording the biggest production of PVC in the Middle East, the Ministry of Investment said in a Monday statement.

The talks also touched on establishing a new factory to produce 135,000 metric tons of calcium chloride.

The minister welcomed the Indian group’s desire to boost its investments in Egypt, emphasizing that the ministry is taking the necessary measures to create a climate that attracts investments and improves the business environment.

Nasr further called on establishing economic partnerships between the private sectors in both countries in a way that will contribute to promoting joint cooperation between Cairo and New Delhi.