Coal News We love to talk!

MAY 31 2017

Indian petrochemical company to increase investment in Egypt

  • Economic Times, ET Bureau / Hyderabad
  • Created: Wed 31st MAY 2017


India’s largest investor in Egypt’s chemical business is planning to increase its investments in the Middle Eastern country to USD 1.5 billion, the company’s top executive has said. The petrochemicals giant TCI Sanmar’s current investments in Egypt are estimated at USD 1.2 billion in Caustic soda.

The company aims at increasing the production of Poly Vinyl Chloride (PVC) from 200,000 metric tonnes to 400,000 metric tonnes with USD 300 millions, which will be the biggest production of PVC in the Middle East, Chairman PS Jayaraman said. TCI Sanmar is one of the biggest producers of petrochemicals in the Middle East, as it exports 50 per cent of its production in Egypt abroad, Jayaraman said during his meeting with Minister of Investment and International Cooperation Sahar Nasr yesterday.

The company also is planning to expanding it’s investment and producing 135,000 metric tonnes of calcium chloride to raise the total investment to USD 1.5 billion. Minister Sahar Nasr welcomed the company’s desire in boosting the its investments in the country and said that Egypt is taking actions to provide attractive climate for investors. TCI Sanmar provides the local markets with its products and exporting its products of Caustic Soda to Southern Europe, Asia, Middle East and Northern Africa.


TOTAL Sanmar Ferrotech Ltd The Children?s Investment fund Asia Europe India

Related News

  • MRPLs portal for start-ups  Read more
  • Indian Oil gets 40% response to staff share sale offer  Read more
  • Domestic natural gas output continues to fall  Read more
  • Natural gas price capped at $3.06/unit  Read more
  • Renewable energy focus will continue, says Harsh Vardhan  Read more
  • Oil Ministry asks CAG to start RIL-operated KG Audit immediately  Read more
  • ReNew Power Ventures signs MoU with IITD for research facility on renewable energy  Read more
  • Coal to add Rs 95,000 crore to govt coffers as clean energy cess by 2020  Read more
  • Challenges and solutions to developing India's Electric Vehicle charging infrastructure  Read more
  • CERS protests shiftingburden of Coal India's ‘inferior’ coal supplies on consumers  Read more