TCI Sanmar Chemicals to raise PVC and ethylene capacity in Egypt

Chennai-based Sanmar Group’s Egyptian venture TCI Sanmar Chemicals is planning to invest $150 million (about Rs 920 crore) to increase capacity of poly vinyl chloride (PVC) and ethylene in Egypt. The Group, which has interest in chemicals, speciality chemicals, engineering and shipping, has already invested around $1.15 billion in the projects of TCI Sanmar in Egypt.
 
TCI Sanmar Chemicals S.A.E., Port Said, has established a chemical complex to manufacture 275,000 MT per annum of caustic soda, 60,000 MT per annum of ethylene from sugar-based ethanol (a renewable resource) and 200,000 MT per annum of PVC, in Port Said, which is the largest in the MENA region. TCI Sanmar provides employment to about 2,000 Egyptian directly and indirectly.
 
Additional investments of $150 million in phase 2 is planned. The proposed investment is to set-up a new PVC plant with a capacity of 200,000 MT, and enhance the ethylene manufacturing capacity by 60,000 MT, said the company.
 
After phase 2 investment, the total investment will be $ 1.3 billion which is the largest Indian investment in chemical sector in Egypt.
 
TCI Sanmar Chemicals is supported by the Sanmar Group, which acquired Trust Chemical Industries in the year March 2007 and renamed it as TCI Sanmar Chemicals S.A.E. Besides equity from the Sanmar Group, TCI Sanmar project is funded by a long-term loan facility from a syndicate of 10 Indian banks.