TCI Sanmar to invest $150 m to expand Egypt chemical complex.

The Sanmar group, which has established a huge chemicals complex in Port Said, Egypt, TCI Sanmar Chemicals SAE, plans to invest an additional $150 million in phase two of the project. This will involve setting up a new PVC plant with a capacity of two lakh tonnes and will also enhance its ethylene manufacturing capacity by 60,000 tonnes. After this round, the total investment will be $1.3 billion (approximately Rs. 7,800 crore), says a press release from the company.

Sanmar had acquired Trust Chemicals Industries in March 2007 and renamed it as TCI Sanmar Chemicals. In the first phase, its plan was to manufacture 2.75 lakh tonnescaustic soda, 60,000 tonnes of green ethylene from ethanol and two lakh tonnes PVC in a year. TCI Sanmar employs about 2,000 Egyptians directly and indirectly.

HBL