Egypt's TCI Sanmar Chemicals plans $15mln investment in 2023

TCI Sanmar Chemicals, a 100 percent subsidiary of India’s Sanmar Group, is planning to invest $15 million in Egypt in 2023 for expanding its production capacity for calcium chloride and polyvinyl chloride (PVC) by implementing four new production lines with a total capacity of 225,000 tonnes per year.

"The project would take two years to be completed after receiving the necessary government approvals to start implementing operations," P S Jayaraman, Chairman of TCI Sanmar Chemicals told Zawya Projects in an exclusive interview.

He said PVC production is expected to grow to 350,000 metric tonnes (MT) by March 2023 versus 245,000 MT achieved in 2021 with full capacity of 400,000 MT expected to be reached by the end of 2023.

Jayaraman said the company is targeting sales revenue in the range of $550- $600 million in 2023.

TCI Sanmar had recently signed an MOU with the Saudi Ministry of Investment to secure supply of vinyl chloride, which is essential raw material for ethylene PVC production.

The company is also planning to set up a loading station (terminal) in El-Gamil area in Port Said with an initial investment of $160 million to import ethylene and export its products.

“We plan to use both self-financing and banks for financing the project, which needs about two years to be completed after a period of 15 months to have the government approvals and licenses,” the TCI Sanmar chief said.