India’s TCI Sanmar to expand investments in Egypt by $300M
Updated 3/18/2025 8:16:00 AMArab Finance: India-based chemicals manufacturer TCI Sanmar is intending to invest an additional $300 million in Egypt over the coming period, bringing its total investments in the country to nearly $2 billion, as per an official statement.
PS Jayaraman, Chairman of TCI Sanmar, announced the company’s plans during a meeting with Hassan El-Khatib, Egyptian Minister of Investment and Foreign Trade.
The Chairman noted that the company seeks to establish cold storage facilities to expand storage capabilities and enhance the supply chain.
He added that the project will be discussed with relevant authorities in Egypt in the coming period.
Navdeep Suri, Director of TCI Sanmar, stated that the company considers the Egyptian market as a strategic hub for its business in the Middle East and North Africa (MENA) region.
TCI Sanmar provides approximately 3,000 direct and indirect job opportunities in Egypt and supplies its products locally as well as globally across Southern Europe, Asia, and the MENA region.
Suri revealed that TCI Sanmar plans to develop a marine terminal to import ethylene, which will contribute to securing the raw material supplies needed for polyvinyl chloride (PVC) manufacturing.
Additionally, he stated that the company is working to scale the production capacity of its factories in Port Said to meet the growing demands.
For his part, El-Khatib affirmed that the government welcomes TCI Sanmar's plans to increase its investments in Egypt. He indicated that these expansions would contribute to reinforcing local manufacturing and creating new job opportunities, which will positively impact the national economy.
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