Indian investments in Egypt exceed USD 2.5 bn: Ambassador

India has now become Egypt's seventh largest trading partner and the value of Indian-owned facilities in the country exceeds USD 2.5 billion, giving direct or indirect employment to at least 35,000 Egyptians.
India's Ambassador to Egypt Naveen Suri said that the trade between India and Egypt has also grown at an impressive rate during the last couple of years, moving from USD 2.46 billion in 2008-2009 to USD 4.34 billion in 2011-2012.
It is also significant that Egyptian exports to India during this period more than doubled from USD 1.17 billion to USD 2.3 billion, giving Egypt a small trade surplus with India, the Ambassador added.

"Equally important, India is now Egypt's seventh largest trading partner and the second largest market for Egyptian exports," said Suri.
A number of large Indian companies are now having a strong and dynamic presence in Egypt and they have become an integral part of the Egyptian economy, he said.
Suri also mentioned that conservative estimates indicate that the value of Indian-owned facilities in Egypt exceeds USD 2.5 billion and they provide direct or indirect employment to at least 35,000 Egyptians.

Suri had met with the Egyptian Prime Minister Ibrahim Mahlab last month to discuss the India-Egypt bilateral relations regarding future industrial cooperation.

They also discussed ways to open up further economic development and to promote existing major economic engagements as well as enhancing trade and investment between the two countries.
India already has many well established investments in Egypt. Alexandria Carbon Black, for instance, is regarded as the world's largest single-location manufacturing facility for this important industrial ingredient.
TCI Sanmar's USD 1.2 billion plant in Port Said will be one of the largest units of its kind in the region and has the potential to catalyse the growth of a substantial plastic industry that uses the PVC produced by the company.
Flex industries have established a state-of-the-art manufacturing facility in 6th October City, the urban area of Cairo.

The Egypt India Polyester Company has invested USD 250 million in a major polyester resin plant that will produce a raw material needed to make plastic bottles, containers and others.
KEC has built the tallest power transmission tower on the Nile in Kafr el Zayat in El Behira Governorate.
Other Indian companies like Kirloskar pumps, Dabur, Asian Paints, Pidilite, EsselPropak and Ranbaxy have made a name for themselves in a host of different areas.
Other Indian companies are engaged in areas like pollution control, railway signaling, water treatment, manufacture of auto components and even seeds that are increasingly popular with Egyptian farmers.