Egypt Daily News – TCI Sanmar, an Indian chemical company, is planning a significant expansion in Egypt, with a total investment of $300 million.
This investment will be divided into two main projects: the establishment of a new ethylene receiving and transportation station at the West Port Said port, which will cost $150 million, and an expansion of the company’s existing factories in Port Said to enhance the capacity of two VCM (Vinyl Chloride Monomer) and PVC (Polyvinyl Chloride) production plants, also costing $150 million.
This move is part of TCI Sanmar’s ongoing commitment to the Egyptian market, where it already has significant operations with an investment volume of $1.5 billion.
The company is recognized as the largest producer of polyvinyl chloride in the Middle East and North Africa, providing approximately 3,000 direct and indirect jobs in the country.
During a recent meeting between Egyptian officials, including the Deputy Prime Minister for Industrial Development and the Minister of Industry and Transport, and TCI Sanmar’s delegation, the focus was placed on identifying investment opportunities and future projects in Egypt.
The company emphasized its willingness to shift its production to the domestic market to help reduce imports and conserve foreign currency, stating its readiness to allocate 100% of its output to serve the Egyptian market.
Currently, TCI Sanmar exports 70% of its production while directing 30% to the local market, showing a strong export-oriented approach. The planned investments hint at a strategic shift aimed at bolstering local production capabilities and addressing local market demands.
