Arab Finance: India-based TCI Sanmar plans to expand in Egypt by establishing a marine terminal for ethylene import with an estimated investment of around $150 million, according to a statement.

The project aims to ensure the sustainability of the raw material supply needed to produce polyvinyl chloride (PVC) and reduce production costs.

TCI Sanmar currently has investments of around $1.5 billion in the Port Said region, where it produces caustic soda, PVC, calcium chloride, and bioethylene. Its projects secure 900 direct jobs and about 1,500 indirect jobs.

The company’s expansion plans were discussed during a meeting between Minister of Investment and Foreign Trade Mohamed Farid and TCI Sanmar representatives at a business dinner hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI) in honor of the minister’s visit to India.

During the meeting, Farid highlighted economic, legislative, and institutional reforms aimed at improving Egypt’s business environment and strengthening investor confidence.

He also reviewed investment opportunities across several priority sectors, stressing the government’s efforts to build a more competitive investment environment and provide comprehensive support to investors to attract additional foreign direct investment (FDI).

Egypt aims to attract long-term productive investments focused on manufacturing, exports, and technology transfer, and to maximize added value, in line with the state's strategy to increase exports, he noted.

It is worth noting that recent data from the General Authority for Investment and Free Zones (GAFI) showed that Indian investments in Egypt stand at $1.26 billion, with bilateral trade between the two countries amounting to around $4.2 billion.