India’s TCI Sanmar company plans to inject an additional $300 million into its investments in Egypt in the upcoming phase, bringing the company’s total investment in the country to approximately $2 billion.

This came during Minister of Investments and Foreign Trade, Hassan El-Khatib visit to India.

 Minister El-Khatib reaffirmed the Egyptian government’s commitment to supporting foreign investments and creating an attractive business environment.

 He emphasized that the government is actively working to eliminate obstacles faced by investors and enhance investment opportunities across various sectors, particularly in the chemical industry.

El-Khatib welcomed TCI Sanmar’s plans to expand its investments in Egypt, highlighting that these expansions will play a significant role in boosting local manufacturing and generating new job opportunities, ultimately contributing to the growth of the national economy.

 This project will be further discussed with relevant Egyptian authorities in the near future.

Additionally, Navdeep Suri, the company’s director, underscored the strategic importance of the Egyptian market as a key hub for TCI Sanmar’s operations in the Middle East and North Africa (MENA) region.

He noted that the company currently provides around 3,000 direct and indirect job opportunities in Egypt while supplying both the domestic market and export markets in Southern Europe, Asia, and MENA.

Looking ahead, Suri revealed that TCI Sanmar plans to develop a marine terminal for the import of ethylene, a critical raw material for polyvinyl chloride (PVC) production, one of the company’s core products.

Additionally, the company aims to increase the production capacity of its factories in Port Said to meet the growing demand for its products in both local and international markets.

 Minister El-Khatib reaffirmed the Egyptian government’s commitment to supporting foreign investments and creating an attractive business environment.

 He emphasized that the government is actively working to eliminate obstacles faced by investors and enhance investment opportunities across various sectors, particularly in the chemical industry.

El-Khatib welcomed TCI Sanmar’s plans to expand its investments in Egypt, highlighting that these expansions will play a significant role in boosting local manufacturing and generating new job opportunities, ultimately contributing to the growth of the national economy.

 This project will be further discussed with relevant Egyptian authorities in the near future.

Additionally, Navdeep Suri, the company’s director, underscored the strategic importance of the Egyptian market as a key hub for TCI Sanmar’s operations in the Middle East and North Africa (MENA) region.

He noted that the company currently provides around 3,000 direct and indirect job opportunities in Egypt while supplying both the domestic market and export markets in Southern Europe, Asia, and MENA.

Looking ahead, Suri revealed that TCI Sanmar plans to develop a marine terminal for the import of ethylene, a critical raw material for polyvinyl chloride (PVC) production, one of the company’s core products.

Additionally, the company aims to increase the production capacity of its factories in Port Said to meet the growing demand for its products in both local and international markets.