India-based TCI Sanmar Chemicals is looking to invest $125 million in Egypt, the company’s chairman said.
The company aims to invest this sum into the construction of the third phase of its plant in Port Said by 2021, local newspaper Alborsa reported, citing Jayaraman.
He also said that the company seeks to double Port Said plant’s production capacity to 400,000 tonnes.
TCI Sanmar has been operating in the Egyptian market for 12 years and nearly 60% of its local production is being directed to exports.
The Indian company’s total investments in Egypt reached about $1.5 billion.